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The Production Concept
The manufacture concept holds that consumers will favour products that are available and extremely affordable and that management should, then, focus on developing production and distribution efficiency. It is one of the oldest philosophies that guide sellers.
The production concept is valuable when:
1). Demand for a manufacture exceeds the supply.
2). The product's cost is too high and improved productivity is needed to bring it down.
The risk with this particular concept is in focusing too narrowly on company operations. Do not avoid the desires of the market. This concept may lead to "marketing myopia."
Innovation Any modernizing modification in a process or procedure which is increases the efficiency of that process or procedure. Information technology has been the catalyst
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