Key Concepts of Market 1. Production Concept. A concept that holds consumers who choose those products that are available and highly affordable. Hence, the producers should concentrate on improving production and distribution efficiency. 2. Product Concept. It holds that the consumer will favor those products that offer the most quality, performance and features and therefore the producers should devote its strategy in making continuous product improvement. 3. Selling Concept. It holds that the consumer will not buy enough of the products unless the producer undertakes substantial selling and promotion efforts. 4. Marketing Concept. It holds that the producers should determine the needs and wants of the target market and to adapt itself in delivering the desired satisfaction more effectively than its competitors. 5. Societal Marketing Concept. It holds that the producer task is to determine the needs, wants, and interest of target markets and to deliver the desired satisfaction more effectively and efficiently than the competitors in way that preserves or enhances the consumers and the well-being of the society.​