A. product differentiation
B. sales orientation
C. consumer orientation
D. price differentiation
Correct Answer: Option A
A. product differentiation
Explanation
The five marketing concepts are:
- Production concept: Consumers prefer products that are widely available and inexpensive. The production concept is more operations-oriented than any other concept.
- Product concept: Consumers favor products that offer the most quality, performance, or innovative features. The product concept believes in the consumer and it says the consumers are more likely to be loyal if they have more options for products or they get more benefits from the product of the company.
- Selling concept: Consumers will buy products only if the company aggressively promotes or sells these products. Of course, in this era of marketing, we know that selling is not the only tactic to sell your product.
- Marketing concept: Focuses on needs/wants of target markets & delivering value better than competitors. The marketing concept believes in the pull strategy and says that you need to make your brand so strong that customers themselves prefer your brand over every other competitor.
- Societal marketing concept: Focuses on needs / wants of target markets & delivering value better than competitors that preserve the consumer’s and society’s well-being.
