Question : Case Study:
ABC Ltd. believes that customers will favor products that are widely available and affordable. The company focuses on achieving high production efficiency and widespread distribution. This philosophy aligns with which marketing concept?
Option 1: Product Concept
Option 2: Selling Concept
Option 3: Production Concept
Option 4: Marketing Concept
Correct Answer: Production Concept
Solution : The correct answer is (c) Production Concept.
The Production Concept is a marketing philosophy that emphasizes producing high-quality products at the lowest possible cost and making them widely available. It is often suitable in situations where demand exceeds supply, and the primary focus is on production efficiency and achieving economies of scale to drive down production costs. The assumption is that consumers will favor products that are readily available and affordable. However, this concept may overlook the importance of understanding and meeting customer needs and preferences, which is a key aspect of the Marketing Concept.
A company believes that products should be widely available and affordable to attract customers. They prioritize production efficiency and distribution effectiveness. This philosophy reflects the:
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