BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -This concept of marketing management aims at increasing the supply of goods and services. The goal is achieved through increasing production or process efficiency. The concept originated during the period of the Industrial Revolution.

Detailed explanation-2: -Production Concept Hence companies focus on producing more of the product and making sure that it is available to the customer everywhere easily. Increase in the production of the product makes the companies get the advantage of economies of scale.

Detailed explanation-3: -The Production Concept. It holds that consumers will prefer products that are widely available and inexpensive. Managers focusing on this concept concentrate on achieving high production efficiency, low costs, and mass distribution.

Detailed explanation-4: -The four Ps are product, price, place, and promotion. The concept of the four Ps has been around since the 1950s. As the marketing industry has evolved, other Ps have been identified: people, process, and physical evidence.

Detailed explanation-5: -The product concept is the idea that a company should focus on making products that meet the needs and wants of customers. The production concept is the idea that a company should focus on making products as efficiently and cheaply as possible, in order to minimize costs and maximize profits.