Question

Differentiate between 'Production Concept' and 'Marketing Concept' of marketing management philosophies on the basis of:
(a) Meaning
(b) Main Focus
(c) Means
(d) Ends

Hint:

The Production Concept focuses on efficiency and cost reduction, whereas the Marketing Concept emphasizes customer satisfaction as the key to long-term profitability. Businesses must adapt their approach based on market conditions and consumer expectations.

Answer 1

Basis	Production Concept
(a) Meaning	Assumes that consumers prefer products that are widely available and affordable.
(b) Main Focus	Focuses on increasing production efficiency and quantity.
(c) Means	Uses mass production and cost reduction to achieve business objectives.
(d) Ends	Aims to earn profit through high production volume.