Final answer:
The marketing concept states that firms should focus on finding the right products for customers, suggesting a customer-centric approach to business that differs from simply pushing products.
Step-by-step explanation:
The marketing concept asserts that a firm should concentrate on finding the right products for its customers rather than the right customers for its products. This customer-centered approach suggests that understanding and meeting consumer needs and preferences will lead to a higher likelihood of purchase and repeat business. It argues against the practice of coercing customers into buying products they don't necessarily need or want.
Advertising in a monopolistic competition context can either make a firm's demand curve more inelastic or shift it to the right, which indicates either a stronger brand loyalty or an increased demand for the firm's product, respectively. This can lead to the successful sale of greater quantities or at higher prices. Moreover, in a market-oriented economy, the variety of products, facilitated by advertising, could lead to benefits for consumers though the cost of product differentiation and advertising is sometimes criticized as excessive.
Choosing the right products is about understanding the unique needs and expectations of the consumer base and designing a market offering that aligns with these. Therefore, successful marketing is not necessarily about creating a better product in isolation but about ensuring that the product fits well with what the market desires and then communicating this effectively through targeted advertising.