The product concept believes that consumers respond to good quality products that are reasonably priced. It is a slight modification on the production concept, where the emphasis is shifted from output levels to product quality, performance and features. Organizations adopting this concept believe that very little effort is required to sell the good quality products that are reasonably priced. They concentrate on designing long lasting products and provide warranty for longer periods. They have heavy faith in role of engineers in the development of super products. This concept has given birth to products, such as wristwatches and fountain pens which are guaranteed for lifetime use of the user.
These companies later realized that people do not want to wear the same wristwatch or write with the same fountain pen for seventy five years. Organizations adopting this concept neglect two major variables one is preference of buyer and another one is technology. Both these variables change with time and make the long-lasting, high performance and wide feature products redundant in the market place
These companies later realized that people do not want to wear the same wristwatch or write with the same fountain pen for seventy five years. Organizations adopting this concept neglect two major variables one is preference of buyer and another one is technology. Both these variables change with time and make the long-lasting, high performance and wide feature products redundant in the market place
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