Which of the following concepts holds that consumers prefer the products which are easily available and are inexpensive?
The production concept
The marketing philosophies are distinguished by what each assumes buyers care about most, and the description here points to availability and price.
The production concept holds that consumers favour products that are widely available and inexpensive. A firm guided by it therefore concentrates on high production efficiency, low costs and mass distribution, on the reasoning that the way to win customers is to make the product cheap and easy to obtain. It is one of the oldest orientations and remains sensible where demand exceeds supply or where the price must be brought down to expand the market.
The product concept is different: it assumes buyers favour products offering the most quality, performance and innovative features, so the firm concentrates on making a better product. The selling concept assumes consumers will not buy enough unless the firm undertakes aggressive selling and promotion. The marketing concept starts from the target market's needs and holds that the firm succeeds by satisfying those needs better than competitors do. None of these three rests on availability and cheapness.
Hence the concept described is the production concept.
Similar Questions
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List - I
(Stages of PLC)List - II
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(Pattern of PLC)List - II
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List - I
(Concept)List - II
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Important Questions from Marketing: Concept and approaches
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A. Marketing Mix
B. Marketing program implementation
C. Marketing planning
D. Market research
E. Control and evaluation of marketing programs
Choose thecorrectanswer from the options given below:
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The ability to change human needs into wants is called
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Which of the following is an example of durable goods?
