BUSINESS ADMINISTRATION
MARKETING MANAGEMENT
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Market Planning
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Customer support services
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Promotion
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Gathering and Analysing information
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Detailed explanation-1: -Marketing identifies customers, their needs, and how much value they place on getting those needs addressed. Marketing informs the design of the product to ensure it meets customer needs and provides value proportional to what it costs.
Detailed explanation-2: -1) Gathering and Analysing Market information: One of the important functions of a marketer is to gather and analyse market information. It is important to identify the needs and wants of the customers and thus to produce such products which makes the customers satisfied.
Detailed explanation-3: -The 7 functions of marketing are promotion, selling, product/service management, marketing information management, pricing, financing and distribution.
Detailed explanation-4: -It’s called marketing research. Marketing research is the process of collecting, analyzing, and reporting marketing information that can be used to answer questions or solve problems so as to improve a company’s bottom line.
Detailed explanation-5: -These functions are : <br> ‘(i)‘ <b>Gathering and anlaysing market information/market research:</b> In order to identify the needs and wants of customers, the marketer gathers market information. He analyses the strengths, weakness, opportunities and threats of the enterprise.