SME Toolkit Logo
Partner Logo
 Share  Print Version  Email

The Product Concept

Provided by IFC, adapted from Business Edge® workbook, “Introduction to Marketing Concepts"


The Product Concept suggests that consumers prefer high-quality products that perform well and have advanced features. Firms in this school of thought believe that a good product builds its own market and they concentrate on constantly improving their product, believing that the quality and features they offer will guarantee long-term success. This approach is especially applicable in electronics.  

Apple is one of the well-known companies that have been using this approach, continually refining and improving its offering to deliver excellent features and innovative products. 

However, this concept may prove short-sighted if companies do not take into account the needs of the customers and produce superior products/features for which the consumers are not ready.   

 Share  Print Version  Email
Comments & Ratings (0)
If you are a human, do not fill in this field.
Click stars to rate.
   Comments are truncated at 1000 characters