Match the LIST-I with LIST-II
| LIST-I | LIST-II |
| (Marketing Management Philosophies) | (Definition) |
| A. The Production Concept | I. Customers will not buy, or not buy enough, unless they are adequately convinced and motivated to do so. |
| B. The Product Concept | II. Focus on satisfaction of customer’s needs is the key to the success of any organisation in the market. |
| C. The Selling Concept | III. Consumers would favor those products which were widely available at an affordable price. |
| D. The Marketing Concept | IV. Customers started looking for products which were superior in quality, performance and features. |
Choose the correct answer from the options given below:
Answer & explanation
Correct answer: option 4
The correct answer is Option (4) → (A) - (III), (B) - (IV), (C) - (I), (D) - (II)
(A) The Production Concept — this matches (III) Consumers would favor those products which were widely available at an affordable price. The firm focuses on large-scale production to bring down the average cost, and earns its profit through volume.
(B) The Product Concept — this matches (IV) Customers started looking for products which were superior in quality, performance and features. When supply grew, customers could compare products. The firm then focused on improving quality.
(C) The Selling Concept — this matches (I) Customers will not buy, or not buy enough, unless they are adequately convinced and motivated to do so. The firm relies on aggressive selling and promotion to persuade customers to buy.
(D) The Marketing Concept — this matches (II) Focus on satisfaction of customer’s needs is the key to the success of any organisation in the market. The firm first finds out what customers need and then makes products to satisfy those needs. It earns its profit through customer satisfaction.
NCERT (2026-27 Edition): “The Production Concept During the earlier days of industrial revolution, the demand for industrial goods started picking up but the number of producers were limited. As a result, the demand exceeded the supply. Selling was no problem. Anybody who could produce the goods was able to sell. The focus of business activities was, therefore, on production of goods. It was believed that profits could be maximised by producing at large scale, thereby reducing the average cost of production. It was also assumed that consumers would favour those products which were widely available at an affordable price. …” “The Product Concept … Thus, with the increase in the supply of the products, customers started looking for products which were superior in quality, performance and features. Therefore, the emphasis of the firms shifted from quantity of production to quality of products. …” “The Selling Concept … This led to greater importance to attracting and persuading customers to buy the product. The business philosophy changed. It was assumed that the customers would not buy, or not buy enough, unless they are adequately convinced and motivated to do so. Therefore, firms must undertake aggressive selling and promotional efforts to make customers buy their products. …” “The Marketing Concept Marketing orientation implies that focus on satisfaction of customer’s needs is the key to the success of any organisation in the market. It assumes that in the long run an organisation can achieve its objective of maximisation of profit by identifying the needs of its present and prospective buyers and satisfying them in an effective way. …” |