Which marketing management philosophy holds that consumers prefer products that are widely available and affordable?
Correct answer: A. Production concept
- A. Production concept
- B. Product concept
- C. Selling concept
- D. Marketing concept
Explanation
The production concept assumes that customers favour products that are readily available at low prices. The product concept instead emphasises quality, performance and features, while the marketing concept begins with customer needs.
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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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