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Question
What is marketing concept?
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Solution
The marketing concept of marketing management lays emphasis on customer satisfaction. It believes that customer satisfaction plays a vital role in the success of any organisation. In the long run, any organisation can survive and maximise profits only if it identifies customer needs and effectively works towards fulfilling them. This concept identifies the fact that people purchase a product for satisfaction of a specific need (such as functional need, social need, psychological need, etc.). Any organisation must aim towards identifying such needs and satisfying them in an effective manner. That is, it must take all decisions based on the needs and requirements of the customers. An organisation works and sells not according to what it has, but according to what the customer wants.
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RELATED QUESTIONS
Hayaram' is a famous chain selling a large variety of products in the Indian market. Their products include chips, biscuits, sweets and squashes. It charges a comparatively higher price than its competitors as it sells quality products. Besides, it offers regular discounts to its customers and easy credit terms to its retailers. It has five of its own retail shops. It also sells its products through various grocery stores so that the products are made available to customers at the right place, in the right quantity and at the right time. It regularly uses different communication tools to increase its sales.
The above para describes the combination of variables used by Hayaram to prepare its market offering. Identify and explain the variables
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State two features of the modern concept of marketing?
Write a word/term/phrase for the following sentence.
The market for the commodities which are produced in one country and sold in another countries.
Answer in one sentence.
Define Market.
Explain the following term/concept.
Place Concept of Market
Define Marketing.
What is Marketing?
What is need for the market and explain the concept of marketing?
The marketing concept is based on which of the following points.
Which of the following statements is true regarding marketing?
Which concept of marketing emphasise on availability and affordability of the product?
Which group includes stakeholders on whom a company depends?
Which activities are included after sale?
What is the traditional meaning of a market?
What is a Market Offering?
Which group consists of Ideas that can be marketed?
Which group consists of Events that can be marketed?
