Product concept of marketing is also taken as an old concept of business. Both production and product concepts give emphasis to production of goods. Production concept gives more emphasis to increase production of goods whereas product concept gives emphasis to produce quality goods.
The production concept of marketing focuses attention on producing quality goods at lower cost. This concept believes that customers' attitude becomes positive towards quality goods with reasonable cost. So, the producers or sellers need not make hard efforts to sell products.
The consumers buy the goods of the competing brands, which they like and are comparatively good in quality with low cost. So, the success of business depends on production of relatively quality goods of lower cost. The ultimate goal of product concept is to earn maximum profit by increasing production of high quality goods of low price using high efficiency and selling them in mass quantity.
The production concept of marketing focuses attention on producing quality goods at lower cost. This concept believes that customers' attitude becomes positive towards quality goods with reasonable cost. So, the producers or sellers need not make hard efforts to sell products.
The consumers buy the goods of the competing brands, which they like and are comparatively good in quality with low cost. So, the success of business depends on production of relatively quality goods of lower cost. The ultimate goal of product concept is to earn maximum profit by increasing production of high quality goods of low price using high efficiency and selling them in mass quantity.
After the industrial revolution, the product concept had great influence on America until 1920s. The manufacturers of television set, air-conditioner, digital watch, food processing etc, are found to have believed in product concept even today. They are trying to attract more and more customers by increasing production of higher quality goods at lower cost.
Features Of Product Concept Of Marketing
1. Emphasis On Product Quality
Product concept of marketing gives emphasis to produce quality goods in large quantity.
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Marketing Concept And Its Features
2. Reasonable Price
The product concept believes that no hard effort needs to sell quality products at reasonable price.
3. No Concern With Customers' Need
The product concept does not care for customers' needs, wants or interest, preference etc. rather it focuses attention on producing quality and durable goods at lower cost.
4. Quality Improvement
The product concept believes that quality product should be improved to attract customers.
2. Reasonable Price
The product concept believes that no hard effort needs to sell quality products at reasonable price.
3. No Concern With Customers' Need
The product concept does not care for customers' needs, wants or interest, preference etc. rather it focuses attention on producing quality and durable goods at lower cost.
4. Quality Improvement
The product concept believes that quality product should be improved to attract customers.
