Q12: Identify and explain the Marketing philosophy adopted in the following cases: (i) Mansi, a shoe manufacturer for school students, decided to maximise her profit by producing and distributing at large scale and thereby reducing the average cost of production. (ii) Nisha, a school bag manufacturer decided to improve the product for profit maximisation and thus added a water bottle holder to the existing design. Jasdeep, a dealer in school uniforms, decided to take up promotional efforts. (iv) Amar is engaged in manufacturing of refrigerators. He surveyed the market and found that customers need a refrigerator with a separate provision of water cooler in it. He decided to launch the same refrigerator in the market.
Answers
Answer:
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1. Ans: (i) Mansi adopted the production concept. The focus of business activities was on the production of goods as the demand for goods started, picking up and the supply was low.
(ii) (a) The main focus of the production concept is on the quantity of product.
(b) Availability and affordability of product are the means and profit through the volume of production is the end.
2. Ans: It is product philosophy.
A personal product philosophy is defined as the core principles, beliefs, processes, and attitudes a product manager has toward developing a product in general.
3. Ans: (i) It is a selling philosophy.
ii) Main Focus: Attracting consumers. Means: Advertising, personal selling, and sales promotion.
4. Ans: The Marketing Concept: The focus of the marketing concept is on the customer's needs and customer satisfaction.