Nisha, a school bag manufacturer, decided to improve the product for profit maximisation and thus, added a water bottle holder to the existing design.
(i) Identify the marketing management philosophy adopted by Nisha.
(ii) Explain this philosophy on the basis of
(a) Main focus.
(b) Means and ends.
(i) Nisha adopted the product concept. With the increase in the supply of goods, customers started looking for products which are of high quality.
Thus, the firm in this concept emphasises on quality or adds some extra features in the product.
(ii) (a) Main focus of the product concept is on quality, performance and features of product.
(b) Product improvement is the means and profit maximisation through product quality is the end.