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:

Production concept = "Make and sell", Marketing concept = "Sense and respond"

Answer 1

Basis	Production Concept	Marketing Concept
(a) Meaning	Focuses on mass production efficiency	Focuses on identifying & satisfying customer needs
(b) Main focus	Internal capabilities & cost reduction	Market demands & customer preferences
(c) Means	High-volume production, distribution	Market research, targeted promotion
(d) Ends	Profit through economies of scale	Profit through customer satisfaction

Key Comparisons:

1. Historical Context: - Production: 1920s (Ford's Model T) - Marketing: 1950s (P&G's brand management)

2. Modern Examples: - Production: Generic pharmaceutical companies - Marketing: Tesla's customer-centric innovation

3. Performance Metrics: - Production: Output per labor hour - Marketing: Customer lifetime value