Production concept is one of the oldest business concepts. It has appeared in the early 20th century in the U.S.. According to this concept, customers prefer cheap and easily available products reachable on the unsaturated market.
The basis of this concept is the emphasis on low production costs, high production efficiency and mass production (large volume of production) - simply said, a large amount of the most cheapest goods.
Production concept in the terms of marketing mix focuses on its price component (contract mix).