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What Are The Advantages And Disadvantages Of Product Concepts?

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Daniel Blazer Profile
Daniel Blazer answered
Marketers with a product concept can showcase the best qualities of their product due to their understanding of the dynamics of it. It states that a product will be most successful on the market if the main focus is placed on developing the product itself including its qualities and specifications. Product concepts should be able to sell themselves without too much focus on the consumer insight. This is a stark contrast to the marketing concept, which puts its focus on creating products that will satisfy an audience’s needs regardless of the product’s qualities and specifications.

One of the advantages of product concepts is that marketers do not need to carry out extensive research into their target audience. Products that a marketer believe will ‘sell themselves’ do not need a lot of well planned and specifically driven marketing campaigns that can save a company a lot of money. Marketers believe that customers will favor products that are highly engineered, high quality and innovative. This attitude has an advantageous affect on marketers as they can focus their time and costs on making the best product possible rather than catering towards a customer’s needs.

Product concepts can have some disadvantages for some marketing campaigns however. Relying on the product to ‘sell itself’ can result in some audiences being neglected from the advertising. Therefore there may be consumers that would have bought the product but are not made particularly aware of its launch and availability. Not carrying out detailed research about your target audience means that you could miss prime advertising opportunities or not supply the product specifications for the audience’s desires and needs.

Generally if a marketer is confident enough with their product concept then it stands a good chance of being successful within a wide audience. The most common product concepts that do well on the market are technological breakthroughs. Many audiences who are interested in the high quality of the product and may not be affected by any advertising campaigns seek after new technological products, such as the iPhone.
Anonymous Profile
Anonymous answered
Strengths limitation
Made up of four simple stages. Can be hard to tell what stage the product is in

By using this model as guidance, effective and timely marketing will take the product through each stage.
Profits rise and fall at different stages of product life cycle.

Can be used to alert the marketer what stage the product is.
Cannot look into the future of your product
Considered as a straightforward and powerful model.
All products have a limited life and need different marketing from different stages.

The diagram of the product life cycle can show the specific times along the product's life and the number of sales labelled along the axis.
Failing to see what stage the product is in may cause business failure, especially for a small business.

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