Laurie owns a 2014 Honda Accord, which is the third Honda vehicle that she and her husband have owned. They describe themselves as a "Honda family" and intend to purchase another Honda automobile when their daughter gets her driver's license. They know and trust Hondas. Which key concept of marketing does this illustrate?

Question

Marcelo Rice

Business

25 July, 02:25

Laurie owns a 2014 Honda Accord, which is the third Honda vehicle that she and her husband have owned. They describe themselves as a "Honda family" and intend to purchase another Honda automobile when their daughter gets her driver's license. They know and trust Hondas. Which key concept of marketing does this illustrate?

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Answers (1)

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Lila Dyer · Answer 1

Product Concept

Explanation:

Product concept implies that buyers are always ready to buy products which they know from their experience provide the best performance, innovative characteristics, or quality. Therefore, there is a likelihood that consumers will be loyal if there are different product choices or if the company's product provide them more benefits.

Therefore, the assumption of the product concept is that the decision to buy a product by the consumer is not based on the price and availability of the product. The only factor that influence the buyer's decision to buy a product, in this case Honda automobile by Laurie, is greater quality no matter how expensive it may be.