Correct Answer - Option 2 : Product concept of marketing
The correct answer is the Product concept of marketing
Product concept of marketing
- The product concept is on the assumption that the customers would choose the product if it has better quality, features, and performance.
- The reason the product concept is important is that it makes it necessary for you to meet the demands and wishes of customers by delivering the best product.
- Sales, marketing, and distribution are also important factors in the product concept.
1. Selling concept of marketing
- The selling concept is based on the premise that the customers won’t buy goods/services of your brand unless you perform sales and promotional activities at a large scale.
- Therefore, businesses and companies should carry out promotional and marketing activities to accelerate their product in the market.
- Customers have inner needs and your job is to convert their inner needs into buying your product through motivation and persuasion.
2. Profit concept of marketing
- This does not exist as such as there are 5 concepts which are: The Production Concept; The Product Concept; The Selling Concept; The Marketing Concept; The Societal Marketing Concept.
3. Production concept of marketing
- The production concept is the most operations-oriented than any of the other marketing concepts on this list.
- It speaks to the human truth that we prefer products that are easily available and inexpensive.
