Product concept, Marketing Management

Assignment Help:

The Product Concept

The product concept states that consumers will favour products that offer the best quality, performance, and features, and therefore the organization should devote its energy to creating continuous product improvements.

1). some producer mistakenly believes that if they "build a better mousetrap," Consumers will beat a path to their door only for their product.

2). the product concept may also lead to "marketing myopia," the disappointment to see the challenges being presented by other products.


Related Discussions:- Product concept

Produce marketing objectives for mcdonald, Over the past couple of decades,...

Over the past couple of decades, there have been significant changes in the quick service restaurant industry in Mauritius. The fast food landscape is made up of different formats

What is market segmentation, What is market segmentation? Market Segm...

What is market segmentation? Market Segmentation: Market segmentation is the process of dividing a total market into group of consumers who have relatively similar produc

What is concept testing strategy development, What is Concept Testing Strat...

What is Concept Testing Strategy Development? Concept Testing: To estimate ideas properly. This may be essential to test product concepts testing is a phase in that a sma

Describe what is meant by the friedman doctrine, Nike's use of "sweatshop l...

Nike's use of "sweatshop labor" in Southeast Asia led to a wave of protests against the company in the United States. Not only did this hurt Nike's reputation, but it also adversel

Idea generation - new product development process, New Product development ...

New Product development Process Idea Generation In the new-product development procedure, the first step is idea generation, which is the systematic discovery for new p

What are focus and drawback of product concept, What are focus and drawback...

What are focus and drawback of product concept? Product Concept: Focus: The focus of the firms subsequent the product concept is onto the production of greater products

Participants in the business buying process, own example of participants in...

own example of participants in the business buying process

Major factors influencing buying behaviour - culture, Culture: Cultu...

Culture: Culture is the most fundamental determinant of a person's wants and about his behaviour. It consists of the learned values, norms, rituals, and symbols of the socie

Explain about the microenvironment of a company, Explain about the microenv...

Explain about the microenvironment of a company. The Company’s Microenvironment: The forces close to the company, affect its capability to serve its customers, the compa

Test marketing, approaches that are followed by FMCG companies

approaches that are followed by FMCG companies

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd