1.

Differentiate between 'Production Concept Philosophy' and 'Product Concept Philosophy’ on the basis of (i) Meaning (ii) Main Focus (iii) Ends

Answer»

Difference between 'Production Concept Philosophy' and 'Product Concept Philosophy':

BasisProduction Concept PhilosophyProduct Concept Philosophy
MeaningThis philosophy is based on the assumption that availability and affordability of the product are the keys to the success of a firmThis philosophy is based on the assumption that product improvement in terms of its features, qualities etc is the means to maximise the profits
Main FocusMain focus is on availability, affordability of product and improving distribution efficiency of the firms.Main focus is on bringing continuous improvement in product-quality, features etc.
EndsTo maximise projects, production should be done on large scale which will ensure easy availability and affordability of the product.In this approach, product improvement in terms of its features, performance and quality are the means to achier e the end goals. 



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