Production Concept – Definition, History, Features, Examples, and Pros/Cons
Quick Summary The Production Concept focuses on mass production, affordability, and widespread availability to maximize profits through economies of scale. Originating in the Industrial Revolution, it remains relevant in cost-sensitive markets (e.g., China’s manufacturing and India’s IT services). However, it risks quality compromise, neglects customer preferences, and may hinder innovation. Later concepts (Product, Selling, Marketing, … Read more