"Today's Market Concept is known as Consumer Oriented Concept". Give a reason either for or against this statement.

For the statement.

Today's market concept is rightly known as the consumer-oriented concept because the modern marketing philosophy places the consumer at the centre of all business activities. Producers identify and understand consumer needs and wants first, and then design products and services to satisfy those needs. The aim of marketing is to know and understand the customer so well that the product or service fits him and sells itself. Customer satisfaction is the principal reason for corporate existence, and the consumer is considered the 'king' in this stage.