Final answer:
The selling concept focuses on high sales volume and aggressive promotion, while the marketing concept focuses on meeting customer needs and wants.
Step-by-step explanation:
The selling concept and the marketing concept are two different approaches to promoting and selling products or services. The selling concept focuses on aggressively selling products or services to customers, regardless of their needs or preferences. The key components of the selling concept include high sales volume, heavy promotion and advertising, and a strong emphasis on closing sales.
On the other hand, the marketing concept focuses on identifying and meeting the needs and wants of customers. It involves understanding the target market, creating a product or service that satisfies customer needs, and promoting it effectively. The key components of the marketing concept include market research, product development, customer segmentation, and customer relationship management.