Ranjana, a hand wash manufacturer decided to improve the product for profit maximization and thus added the feature of softening hand moisturizer attached to hand wash to the existing design.

Identify the marketing management philosophy adopted by Ranjana?

Product concept

The correct answer is option 1- Product concept.

Product concept is adopted by Ranjana.

Ranjana has adopted the Product Concept in her marketing management philosophy. This concept focuses on enhancing the product itself, believing that improvements and features will lead to higher customer satisfaction and, consequently, profit maximization. Product concept is a marketing strategy that emphasizes customer’s needs and wants on the product. Product Concept assumes that product improvement is, the key to profit maximisation of a firm.