MANAGEMENT

BUISENESS MANAGEMENT

MARKETING

Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
Insurance companies are an example of a business that focuses more on selling their products and services thanbuilding relationships with customers, which means that they are using what concept to design their marketing strategy?
A
selling concept
B
product concept
C
production concept
D
buying concept
Explanation: 

Detailed explanation-1: -Examples of companies that use the selling concept are life insurance and timeshare companies. Salespeople in these industries research their target demographic and focus their advertising and promotion on the results of that research to sell as many units of a product as they can to increase profits.

Detailed explanation-2: -The Sales Concept is preoccupied with the seller’s need to convert his/her product into cash. The Marketing Concept is preoccupied with the idea of satisfying the needs of the customer by means of the product as a solution to the customer’s problem (needs).

Detailed explanation-3: -Production Concept-focuses on the internal potentials of the company and not based on the desires and needs of the market.

Detailed explanation-4: -A sales concept analyzes buying and selling effects to place the focus primarily on generating sales transactions. Selling concepts place emphasis on goods the consumer may not ordinarily buy or necessarily need.

There is 1 question to complete.