Question:
Under the ________ concept, availability and affordability of the product are considered to be the key to the success of a firm.
Under the ________ concept, availability and affordability of the product are considered to be the key to the success of a firm.
Show Hint
Under the production concept, firms believe that customers prefer products that are easily available and cheap, so the firm focuses on production and distribution.
Updated On: Oct 26, 2026
- Marketing
- Selling
- Product
- Production
Show Solution
Verified By Collegedunia
The Correct Option is D
Solution and Explanation
Step 1: Understand the question:
Marketing management philosophies are the ideas that guide a firm in how it deals with its market.
The blank asks for the concept in which availability and affordability of the product decide success.
Step 2: Recall the production concept:
The production concept says that buyers like products that are easy to find and low in price.
So the firm tries to produce on a large scale and to spread distribution widely, so that cost and price fall.
This concept works best when demand is more than supply.
Step 3: Check the options:
(A) Marketing concept: the focus is on the needs of customers and their satisfaction. Availability and price are not the only key.
(B) Selling concept: the focus is on strong selling and promotion efforts to push the product.
(C) Product concept: the focus is on quality, performance and features of the product.
(D) Production concept: the focus is on wide availability and low price, which is exactly what the sentence says.
Final Answer:
The blank is filled by Production, option (D).
Marketing management philosophies are the ideas that guide a firm in how it deals with its market.
The blank asks for the concept in which availability and affordability of the product decide success.
Step 2: Recall the production concept:
The production concept says that buyers like products that are easy to find and low in price.
So the firm tries to produce on a large scale and to spread distribution widely, so that cost and price fall.
This concept works best when demand is more than supply.
Step 3: Check the options:
(A) Marketing concept: the focus is on the needs of customers and their satisfaction. Availability and price are not the only key.
(B) Selling concept: the focus is on strong selling and promotion efforts to push the product.
(C) Product concept: the focus is on quality, performance and features of the product.
(D) Production concept: the focus is on wide availability and low price, which is exactly what the sentence says.
Final Answer:
The blank is filled by Production, option (D).
Was this answer helpful?
0
0
Top CBSE CLASS XII Business Studies Questions
What is the Planning Process?
- ................ is one of the most important attitudes of an entrepreneur, which is defined as the ability to continue to do something, even when it is difficult.
(A) Decisiveness
(B) Interpersonal skills
(C) Perseverance
(D) Taking initiative - Mention any four most common environmental barriers which an entrepreneur may face while running his/her venture.
- ____is the process of searching for prospective employees and stimulating them to apply for jobs in the organization.
‘Vishesh Constructions’, a construction company, decided to strictly implement ‘No Helmet, No Entry’ and put the following sign at their construction sites :
Identify the type of plan indicated by the above sign :
View More Questions
Top CBSE CLASS XII Marketing Management Questions
Match the Marketing Management philosophies given in Column I with their main focus given in Column II:
Column I Column II 1. Production concept (i) Customers’ needs 2. Product concept (ii) Quality, performance and features of product 3. Marketing concept (iii) Customers’ needs and societal well-being 4. Societal marketing concept (iv) Quantity of product Choose the correct option from the following:
- ‘JKSD India Ltd.’ recently introduced a new range of ‘fresh from kitchen’ jams, ketchups, salad dressings and peanut butter, etc. They appointed salespersons to contact prospective customers in leading malls to create awareness about their products and develop product preferences with the aim of making sales. Which tool of promotion is being used by ‘JKSD India Ltd.’ to market its products :
- A name, term, symbol, design, or some combination of these, used to identify the products, goods or services of one seller or group of sellers and to differentiate them from those of the competitors is known as :
- Which of the following is not a feature of marketing :
- ‘Lens-o’ was started as an online eyewear company... Now they also sell offline from their own showroom. Which channel of distribution is used by the company :
View More Questions
Top CBSE CLASS XII Questions
- 2, b, c are in A.P. and the range of determinant $\begin{vmatrix}1&1&1\\ 2&b&c\\ 4&b^{2}&c^{2}\end{vmatrix}$ is [2, 16]. Then find range of c is
- A boy of mass 50 kg is standing at one end of a, boat of length 9 m and mass 400 kg. He runs to the other, end. The distance through which the centre of mass of the boat boy system moves is
- A capillary tube of radius r is dipped inside a large vessel of water. The mass of water raised above water level is M. If the radius of capillary is doubled, the mass of water inside capillary will be
- A circular disc is rotating about its own axis. An external opposing torque 0.02 Nm is applied on the disc by which it comes rest in 5 seconds. The initial angular momentum of disc is
- A circular disc is rotating about its own axis at uniform angular velocity \(\omega.\) The disc is subjected to uniform angular retardation by which its angular velocity is decreased to \(\frac {\omega}{2}\) during 120 rotations. The number of rotations further made by it before coming to rest is
View More Questions