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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


Team Careers360 17th Jan, 2024
Answer (1)
Team Careers360 18th Jan, 2024

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.

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