conceptcon·cept /ˈkɒnseptˈkɑːn-/ noun1[countableC]MARKETING an idea for a productthe management of an R&D process, from an original concept through to marketing, manufacture and end-use
→ marketing concept → sales concept2[countableC] a rule or idea saying how something should be done 3the marketing conceptECONOMICS an economic idea stating that companies should make products which customers say they want, rather than products customers have to be persuaded to buy 4the product conceptECONOMICS an economic idea stating that companies should continuously try to improve their products because customers prefer to buy products with the best quality, features, and performance 5the production conceptECONOMICS an economic idea stating that companies should continuously try to manufacture and deliver their products without wasting time, money, or energy because customers want goods that are low in price and easy to obtainThe main objective of firms adhering to the production concept is to minimize costs, yet still maintain product quality.
6the selling concept (also the sales concept)ECONOMICS an economic idea stating that companies should try to sell the products they already have, rather than develop new products → see also consistency concept, realization concept