It is hard to differentiate these brands based on innovative features so companies often give huge discounts to both customers and value chain partners such as wholesalers and retailers to push the products. They are well established brands in the market, widely known by customers for their value proposition, and easily available in most retail chains. On the other end of the spectrum are the brands offered by players such as Proctor and Gamble, and Unilever. It is easy to measure, deliver initial cash to survive, and build a customer base that can experience the firm’s value proposition in terms of products and services offerings. The new products by a new company often don’t have a massive branding and promotion budget, to overcome this shortcoming organizations focus on sales effort.
The selling Concept is used by two types of brands – one that are unknown in the market, and two the brands which are at the mature stage of their product life cycle. The core belief of the firms that use the Selling Concept is that customers won’t buy the firm's product or service until and unless it is backed by massive selling and promotional efforts. What is the Selling Concept? How modern business such as Bicicletas Monark can use the Selling Concept?Īs the name suggests, the Selling Concept approach is based on sales efforts. Some of the features that Bicicletas Monark can use from the Product Concept are – relentless drive to improve the value proposition for the customer by providing them cutting edge products and associated services. It has tried to build a subscription model along with its product based marketing approach but it has not been very successful.Įven though Bicicletas Monark is not completely a single product company, it can use some of the aspects of the Product Concept approach to make effective marketing strategies. The company continuously improves its product each year and the focus of the marketing pitch is often the new features of the camera that it is launching. One company that is widely using the Product Concept is – GoPro camera. The Product Concept strategy requires companies to continuously focus on improving the quality of the products. The Product Concept suggests that consumers buy the product that they consider best in terms of performance, quality, and innovative features. The Product Concept is often prioritized by single product-oriented companies. What is Product Concept? How modern businesses such as Bicicletas Monark can use the Product Concept? Please email for Marketing 5 Concepts Analysis based on latest data of Bicicletas Monark Production improvements not only include driving down the prices through an efficient manufacturing process but also coming up with innovative products that can fetch a premium in the marketplace. Bicicletas Monark can focus on – improving production and distribution efficiency. There are some aspects of Production Concept that Bicicletas Monark can adopt in its marketing strategy even though Production Concept is totally out of sync with modern-day marketing demands.
Unlike the other US-based giant retail chain such as GAP & Nordstrom, Zara controls its whole production supply chain. To achieve profitability Zara has built production centers in cheap locations such as North Africa, China, Vietnam etc. For example, fast fashion chains such as H&M and Zara are selling the latest fashion at the most affordable prices. The production concept is internally focused and stresses on the capabilities and internal resources of the firm. So it is the responsibility of the organization to deliver the best quality product possible at a highly affordable price. Production Concept suggests that consumers in the marketplace favor – product quality and availability.
Production concept is one of the oldest marketing strategies. What is Production Concept? How modern businesses such as Bicicletas Monark can use the Production Concept?
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