What does the production philosophy/concept focus on?

What does the production philosophy/concept focus on?

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• It focuses on the internal capabilities of the firm rather than on the desires and needs of the marketplace.
• The concept emphasizes on winning markets and profits with high volume of production and low cost of production for unit.
• Firms that embrace this concept focus upon systems for large scale production so as to drive down costs and benefit from economies of scale i.e. marketing efforts focus on improving production and distribution efficiency/ it focuses on internal efficiency to achieve lower prices for consumers. It assumes that price is the critical variable in the purchase decision.

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Lellah answered the question on November 3, 2021 at 07:54

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