Discussion
Product-oriented concept believes that ............... is the key to success.
Answer: A
The product concept holds that the offer of better and modified products is the key to success.
Under the product concept, managers assume that consumers favour products offering the most quality, performance and innovative features, so the firm concentrates on making better products and improving them over time. Its weakness is that firms can fall in love with their product and ignore what customers actually need.
Fulfilling the expectations of customers is the marketing concept. Manufacturing on a large scale to cut cost describes the production concept. Attacking competitors' drawbacks is a promotional tactic, not a business philosophy.
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