Question

Write a short note on product concept.

Answer 1

Product concept:

• The product concept works under the principle that the consumers will favour ‘ products that offer the most in quality, performance and innovative features.
• Under this concept, marketing strategies are focused on making continuous product improvements.
• Companies following this concept keep on improving the product quality continuously and work day and night on research and development of the product.
• Products falling in this category are relatively costly.