According to the product concept of marketing, consumers will favor those products that offer the most quality, performance, or innovative features. Marketers focus on producing superior products and improving them over time. The assumes that consumers admire well-made products and can appraise quality and performance. Profit through quality product is the objective of this concept. Thus, marketers focus on regular improvement in the quality of products to meet the needs, wants and requirements of consumers in the product concept of marketing.
According to Philip Kotler, "the product concept is a management orientation that assumes quality for the price, and therefore the organisation should devote its energy in improving product quality". The starting point of this concept is factory and it gives focus on quality product. Similarly, means of the concept is innovation and performance efficiency ends is profit through quality product.
Features of Product Concept of Marketing
- Emphasis on product quality: The product concept of marketing give emphasis on product quality. It can be achieved through research, innovation, and regular improvement activities. Quality attracts customers. the quality of the product should be superior to competitors.
- Reasonable price: Product price should be reasonable. It should be based on its quality. Consumers dislike lower quality and expensive products. Price of the product can be reduced by performance efficiency, mass production, mass distribution, and improved technology.
- Neglect consumer's needs: This is a product-oriented concept. It does not address the needs, wants and requirements of consumers. It just give emphasis on product quality. It totally neglects satisfication of consumers. But it provides a quality product in a reasonable price.
- Continuous improvement: the product concept of marketing focuses on the regular improvement of product or services. Thus, an organisation should devote its experience, skills, and energy in continuous product improvements. it requires regular research, innovation and performance efficiency.
In conclusion, the product concept focuses on producing a quality product and improving them over time. It requires research, innovation, performance efficiency, and skills. The objective of this concept is profit maximization through quality product at a reasonable price.
| Product Concept of Marketing | |
|---|---|
| Starting Point | Factory |
| Focuses on | Quality product |
| Means | Quality innovation and performance |
| Ends | Profit through the quality product. |
