BACHELOR OF BUSINESS ADMINISTRATION

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BUSINESS ADMINISTRATION

MARKETING MANAGEMENT

Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
Identify the marketing management philosophy:Rajesh is a manager in a company. His main area of focus is to generate revenue for the company through repeated sales. He decides to develop a product which generate revenue in the long run. For this he meets a team of R&D of his company. After a long meeting they decided to do a survey. Based on the survey a product is made to fulfill needs of the customers. The product later produces a lot of revenue through repeated sales.
A
Production concept
B
Product concept
C
Selling concept
D
Marketing concept
Explanation: 

Detailed explanation-1: -Promotion (opted by a business firm) in order to achieve its marketing objectives.

Detailed explanation-2: -Brand extension refers to an established company developing a new product under the same brand name as their other products.

Detailed explanation-3: -Ans. The tool of promotion being taken into consideration by Reema is advertising. (Reema is of the opinion that in order to increase the sale of their products, they should advertise about it on television.)

Detailed explanation-4: -Planning is futuristic: “Only on the basis of sales forecasting, he would assist in the preparation of the annual plans for its production and sales.” Planning is continuous: “Besides, he will have to prepare sales plans regularly on weekly, monthly, quarterly and half yearly basis.”

There is 1 question to complete.
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