The product concept is one of the oldest concepts in marketing. According to this concept people will buy the products and services offered by the company as far as it have better in quality and features. Marketing managers keep working on products to make it better in order to attract customers.
Barnes and noble were expanding its market share by opening new book stores at new locations but they were not aware of the fact that Internet is the other medium available to reach high number of customers. Amazon had taken advantage of this opportunity to great extent by opening online book store with the name of Amazon.com. Today Amazon is the largest online book store in the world offering millions of books and products to its customer without any limitation of physical boundaries.
Customer always looks for the better solution to resolve their problems. To get rid of the mouse problems customers may go for the chemical spray rather than mousetrap of better quality and features.
Those companies have faith on product concept become the victim of marketing myopia or short slightness. Managers should wide their vision for long term success rather than focusing on product concept which only works for limited or short time duration.
