WhatMaster

What is product concept and production comparison in tabular form

we explain that what is the difference between product and production concepts with a table. In the marketing world, companies are supposed to design a pattern of strategies that meet customer needs, maximize profit, increase sales, and outperform their competitors. The term product and production concepts are frequently compared. The idea of a product concept is known as similar to the marketing concept because it includes the production of a product accepted by the user.

On the other hand, the concept of production means that a brand or company has to focus on products that they can generate with greater precision. Low-cost products would be produced by companies and it is believed that this cost will drive demand for the product.

What is the product concept?

The meaning of the product concept is that customers or consumers prefer a product that offers the best quality, performance and features. To deliver the best possible product to the customer according to their requirements and expectations, this concept is necessary.

To be successful, a product will not be complete on its own and will need other factors such as marketing, delivery, sales, service, etc.

A company or business can create a product identity and can also add practical value and benefits by using the Product concept. As a result, the expected customers can collect this benefit and will sooner or later buy the product from the market.

Towards the market, the product concept is known as one of the marketing orientations and approaches that a company can follow.

The other strategies are Sales Concepts, Production Concepts, and Marketing Concepts, etc. Pull Marketing is created due to better products that help in the success of the brand. And each creative innovation helps produce new products with features that will attract more customers.

For example, Apple is one of the companies that is extremely focused on its product concept to deliver the best products to its customers. Its products are considered high quality with ingenious features and tremendous achievements. So consumers want to buy Apple products and that generates a marketing pull.

So this is the proper definition of the product concept along with its general description.

What is the concept of production?

The production concept can be considered a more effective organizational setting than any of the other marketing concepts listed. It tells the truth about how humans will prefer products that are inexpensive and easily found.

In the mid-1950s, this concept was discovered during the production era of early capitalism. At that time, organizations were primarily concerned with issues of creation, assembly, and effectiveness.

In addition, during this time, the ‘Ley Dice’ was developed with the idea of supply and demand. The real thinking behind this concept is that to maximize profitability and scale, companies will always prefer to generate very cheap products at maximum volumes.

The owners of these companies believe that customers are initially interested in product availability and low prices. In this way, customer needs may sometimes not be fully addressed.

This type of attempt is apparently more productive when a company works in highly developed markets or where the potential for economies of scale is remarkable.

Product vs production concept

The difference between product and production concept is that the product concept is to create a good quality item/product that must be reliable along with unique characteristics for consumers. On the other hand, the concept of production is to make the product available in the market at an affordable price where people can easily buy the products.

Comparison table between product and production concept

Comparison parameter Product concept Production concept

Consumer preference	Consumers prefer products that offer the best quality, performance, and creative specifications.	Consumers prefer products that are widely available and inexpensive
Sense	Improvements in quality products	Easily accessible products
Business objective	Improve product quality, creating new functionalities, etc.	Improve the production quantity and reduce the average cost.
Profit	You benefit from offering a good quality product	Profits by expanding production on a large scale
Priority	Give priority to the product	Give priority to production

Main differences between product and product concepts

In the product concept, even if the price of the product is high, a good quality product will sell itself. On the other hand, in the production concept, if the company produces in bulk, the production cost will be lower, so it will attract customers by its low cost and it will be easily sold.

In product concepts, consumers will always want products that offer the highest value in quality, performance, and innovative features. And in production concepts, consumers will favor products that are available around them and are inexpensive.
Customers can follow the product concept by improving the product. Under other conditions, the production concept will continue to improve product effectiveness and distribution coverage.
The aim of the product concept is to provide rich products of good quality, with creative characteristics and outstanding performance for customers. And the concept of production aims to achieve economies of scale, through a greater number of production and the improvement of the supply chain.
In a product concept, the product usually has the highest preference, and in the production concept, the production of goods will have the highest priority.
In the product concepts approach, the advancement of the product in terms of its characteristics, performance and quality are the means to achieve the final objectives. In production concepts, maximization projects, production must be done on a large scale, which will ensure the obvious availability and affordability of the product.
A product concept is known as the thought of an article or product. And a production concept is known as the concept of conceiving to create the product.
The concept of production is useful for companies when the demand for a product exceeds the supply and the cost of the product is too high. The product concept is nothing of the kind.

Read Also: Accounting Vs Finance

Frequently asked questions (FAQ) about the product and production concept

What are the 5 marketing concepts?

Marketing concepts refer to a plan that companies implement to ensure that their customers’ needs are met, increase sales, beat the competition, and maximize profits.

A business can adopt and enforce five marketing strategies.
Marketing is the management department that strives to create strategies that establish profitable relationships with customers.

These marketing concepts comprise the production concept, the sale concept, the product concept, the social marketing concept, and the marketing concept.

What is a product and what is a service?

Products are tangible items that are placed on the market for consumption, attention or acquisition. On the other hand, services are intangible elements that come from the product or the people.

While it may seem that the key feature that distinguishes the two is based on tangibility, this is not always the case. In some cases, services are always intangible, but products can also be intangible.

What are the 4 types of products?

Products have broad categories. In the marketing concept, consumer products are considered products purchased for personal use by customers.

These elements are different in several ways. Each product available in the market has various characteristics depending on the various purchasing habits of consumers.

The four product forms comprise shop products, unsought products, specialty products, and convenience products.

Why do the products fail?

There are many reasons why businesses fail. Some of them include not knowing a consumer’s needs and wants, solving problems that don’t exist, chasing the wrong market, and pricing products incorrectly.

Other reasons include fragile internal capabilities, delay in entering the market, and poor execution strategies.

Final Thought

At present, the concept of production seems not to be in use since customers are more interested in quality than in quantity and also this concept is old and during that time the growth in the production of goods was the main business concern. This is because everything they manage to produce has value for customers.

And the demand for the product grows naturally, if it has the expected quality and fully satisfies the requirements of the customers.

In fact, if a company wants to survive competition, in the long run, it must stick to the product concept. This will get customers used to the good quality products offered by the company or firm.