The concept which says that a company's production policy should be centered on the ultimate user of the product is known as
Answer Details
The concept which says that a company's production policy should be centered on the ultimate user of the product is known as consumer sovereignty.
Consumer sovereignty is a marketing concept that puts the customer at the center of a company's production policy. It emphasizes the importance of understanding and meeting the needs and wants of customers to achieve business success. The company should prioritize the satisfaction of its customers by producing high-quality products that meet their needs, and also by providing excellent customer service.
The concept of consumer sovereignty recognizes that customers have the power to make or break a business, and that companies must listen to their customers and respond to their needs in order to stay competitive in the market. It encourages companies to conduct market research to understand their customers' needs, and to develop a marketing mix that focuses on delivering value to the customer. By putting the customer first, companies can build strong customer relationships, increase customer loyalty, and ultimately achieve business success.