The ________ concept holds that consumers will favour those products that offer the most quality, performance, or innovative features. A. Product B. Marketing C. Production D. Selling E. Holistic marketing Doubt Answers | Safalta (2024)

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The ________ concept holds that consumers will favour those products that offer the most quality, performance, or innovative features. A. Product B. Marketing C. Production D. Selling E. Holistic marketing Doubt Answers | Safalta? ›

The Product concept

The Product Concept.

This orientation holds that consumers will favor those products that offer the most quality, performance, or innovative features.

The five concepts of marketing are the production concept, product concept, selling concept, marketing concept, and societal marketing concept.

The selling concept is a part of marketing management and one of several concepts that make up a marketing strategy. A sales concept analyses buying and selling effects to place the focus primarily on generating sales transactions (Czinkota et al., 2021).

A product concept should describe how the new product will appeal to its target market. While the product concept is based upon the idea that customers prefer products that have the most quality, performance, and features, some customers prefer a product that is simpler and easier to use.

The selling concept holds that consumers will prefer products that are ethical, environmentally responsible, legal, and social in the context of marketing activities and programs.

Consumer sales promotions are short-term techniques designed to achieve short-term objectives, such as to stimulate a purchase, encourage store traffic or simply to build excitement for a product or brand. Traditional sales promotions techniques include: Price deal: A temporary reduction in the price, such as 50% off.

The 5 C's of marketing consist of five aspects that are important to analyze for a business. The 5 C's are company, customers, competitors, collaborators, and climate.

The 5 P's of marketing – Product, Price, Promotion, Place, and People – are a framework that helps guide marketing strategies and keep marketers focused on the right things. Let's take a deep dive into their importance for your brand. Need content for your business?

What is Production Concept? Production Concept is a belief that states that the customers would always acquire products which are cheaper and more readily available (or widely available). The production concept advocates that more the products or production, more would be the sales.

What is the concept of the market? ›

market, a means by which the exchange of goods and services takes place as a result of buyers and sellers being in contact with one another, either directly or through mediating agents or institutions. Markets in the most literal and immediate sense are places in which things are bought and sold.

The concept of buying and selling is at the core of commerce, driving the global economy. It involves purchasing products or services (often in bulk or at a low price) and selling them to consumers at a higher price to gain a profit.

Business is an economic activity that involves the exchange, purchase, sale or production of goods and services with a motive to earn profits and satisfy customers' needs. Businesses can be profit or non-profit organizations that function to gain profits or achieve a social cause.

Therefore the definition of the concept of consumer is a natural person who purchases, uses goods or accepts services for the purposes of daily consumption. The rights and interests of consumers shall be protected by these regulations.

What are Consumer Products? Consumer products, also referred to as final goods, are products that are bought by individuals or households for personal use. In other words, consumer products are goods that are bought for consumption by the average consumer.

What is a product concept? A product concept, also known as a concept statement, is a description or vision of a product or service, typically developed at an early stage of the product lifecycle.

Relationship marketing is a strategy that focuses on forging long-term partnerships with customers. Companies build relationships with customers by offering value and providing customer satisfaction.

Answer: The production concept and product concept are orientations that are more likely to lead to marketing myopia than the marketing concept and the societal marketing concept are.

Answer 28: The Correct Answer is (c) Lifestyle. Psychographics is a Qualitative Method of studying consumers based on psychological characteristics and traits such as values, desires, goals, interests, and lifestyle choices.

Expert-Verified Answer

The marketing concept emerged in the mid-1950s as a customer-centered philosophy focused on meeting customer needs. It signifies a shift from production or selling-oriented strategies to value creation for customers.