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    Question

    _________ believes that the consumers will favour those products that offer the best quality, performance and features and therefore the organisation should devote its energy to making continuous product improvements.

    A Profit concept of marketing Correct Answer Incorrect Answer
    B Product concept of marketing Correct Answer Incorrect Answer
    C Production concept of marketing Correct Answer Incorrect Answer
    D Selling concept of marketing Correct Answer Incorrect Answer

    Solution

    A product concept is a description of a product or service, at an early stage in the product lifecycle. It is generated before any detailed design work is undertaken and takes into consideration market analysis, customer experience, product features, product cost, strategic fit, and product architecture.

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