The product concept suggests that customers prefer what?

The product concept emphasizes that customers tend to prefer existing products that meet their needs effectively. This viewpoint suggests that consumers often look for items that have proven to be reliable and satisfactory in the market. Familiarity with a product can breed a level of trust, as customers are generally more comfortable with products they know and have used before, rather than risking uncertainty with something entirely new.

Additionally, existing products usually have established benefits and features that detail their value proposition. This is particularly relevant in markets where consumers are not necessarily seeking the latest innovations but instead prioritize functionality and effectiveness over novelty. Thus, while new, customizable, or low-cost products can appeal to certain segments of the market, the core idea of the product concept is rooted in the reliability and customer satisfaction associated with existing products.