The concepts adopted in marketing are the resultant of the attitude of the marketer towards the customer, as argued by B.V.Raghunandan at a guest lecture on August 19, 2008 to MBA students of Poornapragna Institute of Management, Udupi in India

1. Marketing Concepts: A Basic Business Attitude Poornaprajna Institute of Management, Udupi August 19, 2008

2. Concept is a Basic Philosophy Concepts do not Change The Circumstances in which the Concepts are applied will Change Basic Concepts of an Entrepreneur get Modified from Time to Time A Highly Successful Companies try all the Concepts

3. Concepts in Marketing Basic Approach to the Consumers Conditions of the Market Product Nature Racial Qualities Religious Beliefs Personal Qualities of the Entrepreneur Reaction to the Market Exploitation of the market

4. Basic Approach to the Consumers Short Term Profit Life Time Consumers Nature of Risk Taking Believing in the Ignorance of Consumers Belief that Good Product sells by Itself Putting Morals Above business and profit Easier Selling Efforts

5. Conditions of the Market Monopoly: legal or natural Created Monopoly Branded Monopoly Competition Market becoming Homogenous Consumer becoming complex Unpredictability of Consumer Behaviour

6. Product Nature Insurance Products Booking for Graveyards Vacuum Cleaners Water Purifiers Encyclopedias

7. Racial Qualities Mongolian Race: Techno-Savvy, Amoral in Business Practices (Beg, Borrow or Steal), Product innovation, Firm Belief in Product Concept; Business is War Caucasian Race: Risk-taking, Brand Building, Advertising, and Belief in Marketing Concept; Business is Gambling

8. Religious Beliefs Parsi Community’s Belief in Product Concept Approaches of Tata Group and Godrej Group

9. Personal Qualities of the Entrepreneur Microsoft Apple Computers IBM Computers Reliance Group Amul

10. Reaction to the Market & Exploitation of the Market Protecting Market Share Gaining Shelf Space Shooting in the Air Competition Diversification, Dithering, Consolidation, Restructuring ………..Total surrender to the Market

11. THANK YOU