Which concept holds that consumers will favor product that offer the most in quality performance and innovative features?

Marketing Mcqs for preparation. These MCQs Covers Introduction to Marketing, Marketing Management, Product & Product Mix, New Product Development, Price, Place (Distribution), Promotion (Communication), Consumer Behavior, Marketing Mix. These Marketing questions are very important for all type of exams conducted by Fpsc, Nts, Kppsc, Ppsc, Spsc, Bpsc, Ots, Uts, Pts, Cts, Ats, etea and other testing agencies of Pakistan.

IF YOU THINK THAT ABOVE POSTED MCQ IS WRONG.

PLEASE COMMENT BELOW WITH CORRECT ANSWER AND ITS DETAIL EXPLANATION.

abhishek mishra

• 2022-08-22T17:41:09.051000Z

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.

_______ 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.

1. Selling concept of marketing
2. Product concept of marketing
3. Profit concept of marketing
4. Production concept of marketing

Answer (Detailed Solution Below)

Option 2 : Product concept of marketing

Free

CT 1: Current Affairs (Government Policies and Schemes)

10 Questions 10 Marks 10 Mins

The correct answer is the Product concept of marketing

• The product concept is on the assumption that the customers would choose the product if it has better quality, features, and performance.
• The reason the product concept is important is that it makes it necessary for you to meet the demands and wishes of customers by delivering the best product.
• Sales, marketing, and distribution are also important factors in the product concept.

1. Selling concept of marketing

• The selling concept is based on the premise that the customers won’t buy goods/services of your brand unless you perform sales and promotional activities at a large scale.
• Therefore, businesses and companies should carry out promotional and marketing activities to accelerate their product in the market.
• Customers have inner needs and your job is to convert their inner needs into buying your product through motivation and persuasion.

2. Profit concept of marketing

• This does not exist as such as there are 5 concepts which are: The Production Concept; The Product Concept; The Selling Concept; The Marketing Concept; The Societal Marketing Concept.

3. Production concept of marketing

• The production concept is the most operations-oriented than any of the other marketing concepts on this list.
• It speaks to the human truth that we prefer products that are easily available and inexpensive.

Latest DFCCIL Executive Updates

Last updated on Sep 30, 2022

The Dedicated Freight Corridor Corporation of India Limited (DFCCIL) has released the schedule of Document Verification for the Advt. No. 04/2021. The schedule is out for the candidates whose names were on the waiting list. The DV of the shortlisted candidates is scheduled to be conducted on 16th June 2022. Candidates who will get a successful selection under the DFCCIL Executive Recruitment process will get a salary range between Rs. 30,000 to Rs. 120000. With Diploma or BE/B.Tech as a basic DFCCIL Executive Eligibility Criteria, this is a golden opportunity for job seekers.

Which holds that consumers will Favour products that are available and highly affordable?

Which concept holds that firms must strive to deliver value to customers in a way that maintains or improves the consumer's and society's well being?

What are the 5 concepts of marketing?

What is product concept in marketing?