GENERAL KNOWLEDGE

Detailed explanation-1: -This orientation holds that consumers will favor those products that offer the most quality, performance, or innovative features. Managers focusing on this concept concentrate on making superior products and improving them over time.

Detailed explanation-2: -The Product concept holds that consumers will favour those products that offer the most quality, performance, or innovative features. The product concept proposes that consumers will prefer products that have better quality, performance and features as opposed to a normal product.

Detailed explanation-3: -Production concept holds that consumers will favour products that are available and highly affordable. Therefore, management should focus on improving production and distribution efficiency.

Detailed explanation-4: -Production concept of marketing It speaks to the human truth that we prefer products that are easily available and inexpensive.

Detailed explanation-5: -Consumer sovereignty is the economic concept that the consumer has some controlling power over goods that are produced, and the idea that the consumer is the best judge of their own welfare.