BUSINESS ADMINISTRATION
MARKETING MANAGEMENT
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
|
|
Production concept
|
|
|
Product concept
|
|
|
Marketing concept
|
|
|
Selling concept
|
Detailed explanation-1: -Keeping in mind the same philosophy these companies put in all their marketing efforts in reducing the cost of production and strengthening their distribution system.
Detailed explanation-2: -What is the philosophy of marketing? Philosophy of marketing is defined as a strategy in which we focus exclusively on the needs of the customer in order to maintain the profitability of the company. Everything that is not related to the target audience will be relegated to the background.
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: -Companies adopt one of four philosophies when deciding on how to create an organizational marketing process. The four philosophies are production, sales, marketing and societal marketing orientations.
Detailed explanation-5: -Production Orientation: the business focuses on improving efficiency in producing its products or services, appealing to customers with efficiency and low prices. Consumer needs and wants aren’t really considered.