The ________ concept holds that consumers will favor those products that offer the most quality, performance, or innovative features.
Correct answer: A. Product
- A. Product
- B. Marketing
- C. Production
- D. Selling
Explanation
The product concept assumes buyers prefer products offering superior quality, performance, or innovative features. The production concept focuses mainly on availability and low cost, not product excellence.
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Marketing covers how organisations identify customer needs, create value and exchange products or services through suitable markets. Key concepts include market segmentation, targeting, positioning, consumer behaviour, the marketing mix of product, price, place and promotion, branding, product life cycle and differences between marketing and selling.
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