"With the increase in the supply of the products, customers started looking for products which were superior in quality, performance and features. The focus of business activity changed to bringing continuous improvement in the quality, incorporating new features, etc".
Identify the marketing philosophy highlighted in the above lines.
"With the increase in the supply of the products, customers started looking for products which were superior in quality, performance and features. The focus of business activity changed to bringing continuous improvement in the quality, incorporating new features, etc".
Identify the marketing philosophy highlighted in the above lines.
Solution
The product concept holds that as supply increases, customers prefer products superior in quality, performance and features, so firms focus on continuous product improvement and adding new features. The passage describes exactly this shift in business focus, distinguishing it from the production concept (availability and low cost) and the selling concept (aggressive promotion).
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