Question

Nisha, a school bag manufacturer decided to improve the product for profit maximization and thus added a waterbottle holder to the existing design.

(i) Identify the marketing management philosophy adopted by Nisha; and

(ii) Explain this philosophy on the basis of:

(a) Main focus; (b) Means and ends

Answer 1

(i) Product Concept

(ii) (a) Main Focus: This concept emphasises on the features of product.

(b) Means: Management can attract customers by making continuous improvement in the quality and in its features.

Ends: Products improvement is the key to profit maximisation under the product concept.