Product Concept: Definition, History, Features, Examples, and Pros/Cons

product concept in marketing

What is Product Concept? The product concept of marketing lies in the idea that customers choose products that offer top-notch quality, performance, and features. This concept is crucial as it compels businesses to cater to customer demands effectively. While the focus is on product excellence, other business aspects like marketing, distribution, and customer service play … Read more

8 Pros and 7 Cons of Production Concept of Marketing

pros and cons of production concept

Pros and Cons of Production Concept The production concept is the marketing philosophy that relies on the belief that people buy product that has lower yet affordable prices. As such, it emphasizes companies to focus on mass production and earn profit through production efficiency. Let’s explore some pros and cons of production concept of marketing. … Read more

Production Concept: Definition, History, Features, Examples, and Pros/Cons

production concept of marketing

What is Production Concept? The production concept relies on the idea that customers are inclined to choose products that are easily accessible and cost-effective. Businesses under this philosophy aim to maximize profits by producing large quantities, benefiting from economies of scale. This approach originated during the Industrial Revolution to meet high demands stimulated by a … Read more

The 4 Ps of Marketing Mix: Product, Price, Place, and Promotion

4 Ps of Marketing Mix

What are the 4 Ps of Marketing Mix? The 4 Ps of Marketing Mix, developed by Jerome McCarthy in the 1960s, are the fundamental pillars of a marketing strategy. They consist of Product, Price, Place, and Promotion. These elements enable businesses to effectively reach their target markets and achieve sales goals. They’ve long served as … Read more

Marketing Mix – Definition, 4Ps, 7Ps, 4Cs, Strategy, and Examples

what is marketing mix

What is Marketing Mix? The marketing mix is a powerful toolbox that businesses use to achieve their marketing goals. It’s a strategic approach combining different elements to create a strong brand and boost sales. Originally known as the four Ps – Product, Price, Placement, and Promotion – this approach has evolved into the 7 Ps, … Read more