_______ believes that the consumers will favour those products that offer the best quality, performance and features and therefore the organisation should devote its energy to making continuous product improvements.

The correct answer is the Product concept of marketing

Key PointsProduct concept of marketing 

• The product concept is on the assumption that the customers would choose the product if it has better quality, features, and performance.
• The reason the product concept is important is that it makes it necessary for you to meet the demands and wishes of customers by delivering the best product.
• Sales, marketing, and distribution are also important factors in the product concept.

Additional Information

1. Selling concept of marketing

• The selling concept is based on the premise that the customers won’t buy goods/services of your brand unless you perform sales and promotional activities at a large scale.
• Therefore, businesses and companies should carry out promotional and marketing activities to accelerate their product in the market.
• Customers have inner needs and your job is to convert their inner needs into buying your product through motivation and persuasion.

2. Profit concept of marketing

• This does not exist as such as there are 5 concepts which are: The Production Concept; The Product Concept; The Selling Concept; The Marketing Concept; The Societal Marketing Concept.

3. Production concept of marketing

• The production concept is the most operations-oriented than any of the other marketing concepts on this list.
• It speaks to the human truth that we prefer products that are easily available and inexpensive.