BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -The consumer looks for the usefulness and acceptability of a product. As such it has become essential to find out the needs and desires of consumers, through marketing research. The information from the market or the consumer will decide the future of the product.

Detailed explanation-2: -The modern marketing concepts are: Learning and comprehending the wants/needs of the consumer through online interaction. Creating products that meet the needs of the target consumer. Leading the competition in customer satisfaction. Making sure a business’ efforts make a profit for the organization.

Detailed explanation-3: -In modern market research, the process is customer-facing. Rather than find suitable customers for the product, the purpose of research is to create a suitable solution to meet the needs of the consumer. The research problem is stated as a search for ways to improve customer satisfaction.

Detailed explanation-4: -2. Modern Marketing Concept : Modern marketing concept focuses on customer’s need and wants and it aims in meeting the customer’s satisfaction.

Detailed explanation-5: -According to this definition, marketing begins and ends with the customer. Truly successful marketing understands the customers so well that the product or service satisfies a need so perfectly that the customer is desperate to buy it. The product almost sells itself.