Railroads were once operated based on the thinking that users wanted trains that would offer the most in quality, performance, and innovative features. The railroad managing companies overlooked the fact that there could be other modes of transportation. This reflects the ________ concept.
A) product
B) production
C) selling
D) marketing
E) societal marketing

Question

Quizplus · Accepted Answer

The given scenario reflects the product concept, which is a business philosophy that emphasizes creating a high-quality product that meets the needs and wants of the target customers. In this case, the railroad managing companies were solely focused on improving the quality, performance, and features of their trains, assuming that customers would prefer their mode of transportation over any other alternatives. They overlooked the changing needs and preferences of customers who might want to use other modes of transportation like cars, buses, and airplanes. The product concept assumes that customers will prefer products that offer the most quality, performance, and features, and this is exactly what the railroad companies were doing. However, this approach can be limiting, as it fails to consider the broader market environment and the needs of other stakeholders, such as society and the environment.

Railroads Were Once Operated Based on the Thinking That Users