BUSINESS ADMINISTRATION
MARKETING MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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The idea that a business should strive to satisfy consumer wants and needs while achieving company goals.
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the shop
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Must also determine how much customers are willing to pay.
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Detailed explanation-1: -The Marketing Concept is preoccupied with the idea of satisfying the needs of the customer by means of the product as a solution to the customer’s problem (needs). The Marketing Concept represents the major change in today’s company orientation that provides the foundation to achieve competitive advantage.
Detailed explanation-2: -The marketing concept is the idea that a business should strive to satisfy customers’ needs and wants while generating a profit for the business.
Detailed explanation-3: -The marketing concept involves identifying consumer needs and wants and then producing products (which can be goods, services, or ideas) that will satisfy them while making a profit.
Detailed explanation-4: -The importance of marketing for your business is that it makes the customers aware of your products or services, engages them, and helps them make the buying decision. Furthermore, a marketing plan, a part of your business plan helps in creating and maintaining demand, relevance, reputation, competition, etc.
Detailed explanation-5: -It is a series of activities fashion businesses undertake so that customers will buy products from them instead of their competitors. What is Marketing Concept? The idea that businesses must satisfy customers’ needs and wants in order to make a profit.