Main types of business concepts
Posted: Thu Jan 23, 2025 8:26 am
Production concept
It is based on the idea that customers prefer products that are affordable and accessible. Therefore, a company needs to focus on increasing productivity and reducing costs. This will jamaica mobile phone numbers database allow it to offer products at lower prices. This theory is often applied in the early stages of an industry's life cycle.
Product concept
Based on this, consumers prefer products with the best quality, design and functionality. The company must improve in producing goods with the best characteristics. Thanks to this, products can be created that surpass their competitors in quality.
Sales concept
The sales model is based on the fact that consumers will not buy a company's products unless significant efforts are made in sales and promotion. Aggressive marketing and extensive sales are needed. Advertising and sales promotion are priorities.
Marketing concept
According to this modern theory, the main task of the company is to focus on the needs and requirements of the target market, to produce and sell what is in demand and can be sold - this is the main principle. The company should focus on the needs of customers, satisfy as many of them as possible.
Social and ethical concepts
The social and ethical concept of business means that the company, in addition to striving for profit and satisfying the needs of customers, takes into account the interests of society, observes business ethics and contributes to solving important social problems. Business takes responsibility for the well-being of society and the beneficial impact of products on the environment.
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It is based on the idea that customers prefer products that are affordable and accessible. Therefore, a company needs to focus on increasing productivity and reducing costs. This will jamaica mobile phone numbers database allow it to offer products at lower prices. This theory is often applied in the early stages of an industry's life cycle.
Product concept
Based on this, consumers prefer products with the best quality, design and functionality. The company must improve in producing goods with the best characteristics. Thanks to this, products can be created that surpass their competitors in quality.
Sales concept
The sales model is based on the fact that consumers will not buy a company's products unless significant efforts are made in sales and promotion. Aggressive marketing and extensive sales are needed. Advertising and sales promotion are priorities.
Marketing concept
According to this modern theory, the main task of the company is to focus on the needs and requirements of the target market, to produce and sell what is in demand and can be sold - this is the main principle. The company should focus on the needs of customers, satisfy as many of them as possible.
Social and ethical concepts
The social and ethical concept of business means that the company, in addition to striving for profit and satisfying the needs of customers, takes into account the interests of society, observes business ethics and contributes to solving important social problems. Business takes responsibility for the well-being of society and the beneficial impact of products on the environment.
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