The marketing Philosopy in this case is 'Product Concept'.
The firms following this concept believe that by producing superior products and improving their features overtime, they would be able to attract more customers. The underlying assumption is that customer favours product quality, performance, innovative features, etc. Under the product concept, superior products are always welcomed by the customers. But product is only one element of the total marketing mix. A better product at higher price might disturb the customer budget and so he may compromise with the lower quality products.
