Question

According to the modern approach, marketing means sensing, stimulating, servicing and satisfying the needs and wants of present and potential customers in a more efficient manner than the competitors.

Options

• True

• False

Answer 1

True

Explanation:

The modern marketing concept is customer‑oriented, as it involves sensing customers’ needs, stimulating demand, serving customers, and satisfying present and potential customers more efficiently than competitors do to achieve customer satisfaction and long‑term profit and growth.