Henry Ford's philosophy was to perfect the Model T so that its cost could be reduced further for increased consumer affordability. This reflects the ________ concept.
A) product
B) production
C) selling
D) marketing
E) societal marketing

Question

Quizplus · Accepted Answer

Henry Ford's philosophy of perfecting the Model T so that its cost could be reduced further for increased consumer affordability reflects the production concept. The production concept is based on the idea that a company can lower its costs and increase its efficiency by mass-producing standardized products. By focusing on production efficiency, companies can reduce their costs and offer products at lower prices, making them more affordable and accessible to a larger market. In the case of Henry Ford, he revolutionized the automotive industry by perfecting the production process, which allowed him to lower the cost of the Model T, making it affordable for the average consumer. Therefore, the production concept is the best choice to describe Henry Ford's philosophy in this scenario.

Henry Ford's Philosophy Was to Perfect the Model T So