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Question
Distinguish between the product concept and production concept of marketing.
Solution
|
Basis of Difference |
Product Concept |
Production Concept |
|
1. Belief |
It was believed that consumers favoured, superior quality products and thereby, profits can be maximised by increasing the quality of the product. |
It was believed that consumers favoured readily available and affordable products and thereby profits can be maximised by increasing the volume of production. |
|
2. Focus of the business |
Focus was on improving the quality of the product, adding new features, etc. |
Focus was on enhancing the quantity of production and reducing the average cost of production. |
|
3. Methodology |
Emphasis on improving the features and quality of the product. |
Emphasis on improving the production efficiency of the business. |
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