Q: Given the frequency response of a component speaker A of 35Hz-21kHz and component speaker B has 60Hz-20kHz, does this mean that component speaker A will have better bass sound?
A: Nope

Q:We also have to factor the materials and technology that has been used in the development of the speakers(w/ respect to near bass frequency)?
A: Yes. Engineering is expensive though, physics is a better indicator of bass. Larger midbass = more air moved = more bass.

Recreating bass or midbass frequencies is simply the art of moving air. Frequency response is a bad metric in general since manufacturers quote them vaguely. You see, all of these component speakers' midbass can technically reach up to 20hz once you remove the filters. BUT, you can't hear it since the output is too low.