The product concept proposes that consumers will prefer products that have better quality, performance and features as opposed to a normal product. The concept is truly applicable in some niches such as electronics and mobile handsets.
Two companies which stand apart from the crowd when we talk about the product concept are Apple and google. Both of these companies have strived hard on their products and deliver us feature rich, innovative and diverse application products and people just love these brands.
One problem which has been associated with the product concept is that it might also lead to marketing myopia. Thus companies need to take innovations and features seriously and provide only those which the customer needs. The customer needs should be given priority.
In the past several of Microsofts product have been brought under the hammer with people feeling more and more disgruntled with the operating systems because of lack of innovation and new features. Each microsoft operating system appears almost similar with just few tweaks.
On the other hand, innovating too soon becomes a problem. Several innovative products are marked as experimental in the market instead of being adopted as a result of which these products have less shelf life and might have to be taken off the market.
Thus companies following the product concept need to concentrate on their technology such that they provide with excellent feature rich and innovative products for optimum customer satisfaction.
Also read – Company orientation towards the marketplace
if you define with example,it will be more effective.
Thanks for the feedback. I will try to involve more examples when i edit the article. But for now, there is an explanation given as to WHY i did not include examples in the article in the comment below. Customer concept is the latest concept of marketing and it supersedes Product concept. Nowadays companies are focused on consumers and not their products (unline 3-4 decades back).
Great love the short explanation
can you please tell any ither company using the the product cocept … ??
You can think of Apple or Zara which focuses mainly on its product and rarely spends on Marketing. But even these companies work on Customer concept, which supersedes Product concept. Product concept was used 3-4 decades back but nowadays the main focus is on consumers. And hence consumer marketing or consumer concept is at the forefront. https://www.marketing91.com/customer-concept/
Can you please tell me when we need to apply product concept?
Can you please tell me in which year was the product concept made