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Which of the following holds that consumers prefer products that are widely available and inexpensive?
- a)the product concept
- b)the production concept
- c)the selling concept
- d)the performance concept
Correct answer is option 'B'. Can you explain this answer?
Verified Answer
Which of the following holds that consumers prefer products that are w...
Product concept
- The product concept is one of the early stages of the product life cycle.
- a product concept is also known as a concept statement
- it is built long before any activity starts
- a product concept addresses a market or customer need
- it is a description of a product idea that has been evaluated or is in process
Important Points
- The product aims to capture the mindset of the end customers by offering the product in the mass market at an equitable price
- The product concept holds that consumers will prefer products that are widely available and inexpensive
- Focusing on this concept concentrates on achieving high production efficiency, low costs, and mass distribution
- Customers will compare the cost product and its utilities if the available products are convenient for their price range then they will choose it
Hence the correct answer is a production concept
Most Upvoted Answer
Which of the following holds that consumers prefer products that are w...
Product concept
- The product concept is one of the early stages of the product life cycle.
- a product concept is also known as a concept statement
- it is built long before any activity starts
- a product concept addresses a market or customer need
- it is a description of a product idea that has been evaluated or is in process
Important Points
- The product aims to capture the mindset of the end customers by offering the product in the mass market at an equitable price
- The product concept holds that consumers will prefer products that are widely available and inexpensive
- Focusing on this concept concentrates on achieving high production efficiency, low costs, and mass distribution
- Customers will compare the cost product and its utilities if the available products are convenient for their price range then they will choose it
Hence the correct answer is a production concept
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Which of the following holds that consumers prefer products that are w...
Understanding the Production Concept
The correct answer is option 'B', the production concept. This concept is a fundamental marketing philosophy that emphasizes the importance of product availability and affordability. Here’s a detailed explanation:
What is the Production Concept?
- The production concept is based on the idea that consumers favor products that are readily available and low in cost.
- Businesses adopting this concept focus on mass production and widespread distribution to ensure that their products are accessible to a larger audience.
Key Characteristics
- Cost Efficiency: Companies strive to reduce production costs to offer lower prices to consumers.
- Mass Distribution: The emphasis is on making products available in as many locations as possible, ensuring convenience for the consumer.
- High Demand: The assumption is that if a product is affordable and widely available, it will inherently attract more customers.
Implications for Businesses
- Businesses need to optimize their production processes and supply chains to achieve economies of scale.
- Marketing strategies focus less on product differentiation and more on making sure the product is accessible and affordable.
Limitations of the Production Concept
- It can lead to a neglect of consumer preferences and needs, as the focus is primarily on availability and cost rather than quality or innovation.
- This approach may not be effective in markets where consumers prioritize quality, brand reputation, or unique features over price.
In conclusion, the production concept holds that consumers prefer products that are widely available and inexpensive, emphasizing the importance of cost and accessibility in consumer purchasing behavior.
The correct answer is option 'B', the production concept. This concept is a fundamental marketing philosophy that emphasizes the importance of product availability and affordability. Here’s a detailed explanation:
What is the Production Concept?
- The production concept is based on the idea that consumers favor products that are readily available and low in cost.
- Businesses adopting this concept focus on mass production and widespread distribution to ensure that their products are accessible to a larger audience.
Key Characteristics
- Cost Efficiency: Companies strive to reduce production costs to offer lower prices to consumers.
- Mass Distribution: The emphasis is on making products available in as many locations as possible, ensuring convenience for the consumer.
- High Demand: The assumption is that if a product is affordable and widely available, it will inherently attract more customers.
Implications for Businesses
- Businesses need to optimize their production processes and supply chains to achieve economies of scale.
- Marketing strategies focus less on product differentiation and more on making sure the product is accessible and affordable.
Limitations of the Production Concept
- It can lead to a neglect of consumer preferences and needs, as the focus is primarily on availability and cost rather than quality or innovation.
- This approach may not be effective in markets where consumers prioritize quality, brand reputation, or unique features over price.
In conclusion, the production concept holds that consumers prefer products that are widely available and inexpensive, emphasizing the importance of cost and accessibility in consumer purchasing behavior.
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Which of the following holds that consumers prefer products that are widely available and inexpensive?a)the product conceptb)the production conceptc)the selling conceptd)the performance conceptCorrect answer is option 'B'. Can you explain this answer?
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