Nisha, a school bag manufacturer decided to improve the product for profit maximization and thus added a waterbottle holder to the existing design.
Nisha, a school bag manufacturer decided to improve the product for profit maximization and thus added a waterbottle holder to the existing design.
(i) Identify the marketing management philosophy adopted by Nisha; and
(ii) Explain this philosophy on the basis of:
(a) Main focus; (b) Means and ends
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(i) Product Concept
(ii) (a) Main Focus: This concept emphasises on the features of product.
(b) Means: Management can attract customers by making continuous improvement in the quality and in its features.
Ends: Products improvement is the key to profit maximisation under the product concept.
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