1.

Distinguish between the product concept and production concept of marketing.

Answer»
Basis of DifferenceProduct ConceptProduction Concept
BeliefIt was believed that consumers favoured, superior quality products and thereby, profits can be maximised by increasing the quality of the product.It was believed that consumers favoured readily available and affordable products and thereby profits can be maximised by increasing the volume of production.
Focus of the businessFocus was on improving the quality of the product, adding new features, etc.Focus was on enhancing the quantity of production and reducing the average cost of production.
MethodologyEmphasis on improving the features and quality of product.Emphasis on improving the production efficiency of the business.


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