Question: Can the marketing concept reach a point of diminishing returns? That is, is there a point at which marketers can offer too much choice to too many consumers (try to satisfy too many needs/wants), or is the proliferation of product choices indicative of successful implementation of the marketing concept?
I think this is a very interesting concept to explore but I think that a persons opinion on this is going to vary based on from where they see it from be it consumer or producer.
From a consumers stand point, I don't think there can be such a thing as too much choice or different options available to me in the marketplace. The more variety and competition there is out there, the better things are going to be for me. I'm going to have more choices at lower prices which means that the products available to me are going to be closer and closer to what I really want at prices I can afford.
All this sounds great to me but, I don't think the manufacturers would agree.
Manufacturers try and do implement a variety of choices on what they can provide in their products but this variety has a limit. The more and more options a manufacturer provides to a consumer, the thinner and thinner the resources of the company get stretched. If a manufacturer chased every single want and need from 100 customers, they would end up producing 100 different versions of the same product which would be financially impossible. Manufacturers have financial limits on what they can produce and try to push them as far as they can but at some point, they will start to lose money.
I think that manufacturers try and get a general consensus on what the market wants and makes that product with a few options or extras to try and appeal to a larger portion of the population but that is it.
Would you be willing to pay a little extra to have a more specialized or unique product?
