Correct option is C
The
Marketing Concept is a modern business philosophy that emphasizes that the key to achieving organisational goals lies in determining and satisfying the
needs and wants of customers more effectively than competitors.
The central idea is:
“Customer is the king.”
This concept shifts focus from:
· Production → “Produce more”
· Product → “Make a better product”
· Selling → “Push products aggressively”
·
Marketing → “Understand and satisfy customer needs”
Thus, the main focus of the marketing concept is clearly
Customer Needs, making
(c) the correct answer.
In the explanation, the correct option is highlighted
in bold, as required.
Information Booster
1. The marketing concept is based on
customer orientation,
integrated marketing, and
profit through customer satisfaction.
2. It requires continuous
market research to understand buyer behaviour and preferences.
3. It creates long-term customer relationships, leading to
brand loyalty and repeat purchases.
4. This concept forms the foundation of modern marketing strategies such as segmentation, targeting, and positioning (STP).
5. The marketing concept helps organisations gain a
competitive advantage by delivering superior value.
Additional Information
·
(a) Quantity of Product – Incorrect; this is related to the
production concept, which focuses on mass production and cost efficiency.
·
(b) Quality of Product – Incorrect; while important, this is the core of the
product concept, not the marketing concept.
·
(d) Existing Product – Incorrect; this reflects the
selling concept, where firms try to sell what they already produce, not what customers need.