Which concept states that consumers will favor products that offer the most quality performance and features?

The production concept is __________.

A. the idea that consumers will favor products that are available and highly affordable; therefore, the organization should focus on improving production and distribution efficiency

B. the idea that consumers will favor products that offer the most quality, performance, and features; therefore, the organization should devote its energy to making continuous product improvements

C. the idea that consumers will not buy enough of the firm’s products unless the firm undertakes a large-scale selling and promotion effort

D. a philosophy in which achieving organizational goals depends on knowing the needs and wants of target markets and delivering the desired satisfactions better than competitors do

Correct Answer:

A. the idea that consumers will favor products that are available and highly affordable; therefore, the organization should focus on improving production and distribution efficiency

Explanation:

The production concept can be defined according to the needs and want of consumers. In production concept companies focuses to develop that type of products which are suitable and affordable to everyone. For example, we can says that basic necessity items consumers use in there routine. Furthermore, in production concept companies make there major focus on the distribution of those goods and services.

This helps companies to gain more market share as well as to build a strong product image in the customers mind. To get better position in customers mind companies also develop there production capability as well as production quality. When companies have gained more market share, there production capacity increase. When companies have high demand of there goods and service the supply and demand curve shifts towards mass production concept. Mass production concept helps companies to increase production which ultimately reduces product cost. According to this situation companies have more chances to compete their competitor at low price. That is why it is much importation factor for companies.

_______ believes that the consumers will favour those products that offer the best quality, performance and features and therefore the organisation should devote its energy to making continuous product improvements.

1. Selling concept of marketing
2. Product concept of marketing
3. Profit concept of marketing
4. Production concept of marketing

Answer (Detailed Solution Below)

Option 2 : Product concept of marketing

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CT 1: Current Affairs (Government Policies and Schemes)

10 Questions 10 Marks 10 Mins

The correct answer is the Product concept of marketing

• The product concept is on the assumption that the customers would choose the product if it has better quality, features, and performance.
• The reason the product concept is important is that it makes it necessary for you to meet the demands and wishes of customers by delivering the best product.
• Sales, marketing, and distribution are also important factors in the product concept.

1. Selling concept of marketing

• The selling concept is based on the premise that the customers won’t buy goods/services of your brand unless you perform sales and promotional activities at a large scale.
• Therefore, businesses and companies should carry out promotional and marketing activities to accelerate their product in the market.
• Customers have inner needs and your job is to convert their inner needs into buying your product through motivation and persuasion.

2. Profit concept of marketing

• This does not exist as such as there are 5 concepts which are: The Production Concept; The Product Concept; The Selling Concept; The Marketing Concept; The Societal Marketing Concept.

3. Production concept of marketing

• The production concept is the most operations-oriented than any of the other marketing concepts on this list.
• It speaks to the human truth that we prefer products that are easily available and inexpensive.

What are the 4 concepts of marketing?

What are the 5 concepts of marketing?

What are product concepts in marketing?

What are the types of marketing concept?