ENTREPRENEURIAL OPPORTUNITIES
MARKET RESEARCH
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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determine the needs, wants, and interests of target markets and satisfy them more effectively and efficiently than competitors while preserving or enhancing consumers and society’s long-term well-being
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hire ex-cons
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build profitability and competitiveness into marketing practices
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leave this world a better place than it was
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develop lasting relationships with customers
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Detailed explanation-1: -The Societal Marketing Concept. This concept holds that the organization’s task is to determine the needs, wants, and interests of target markets and to deliver the desired satisfactions more effectively and efficiently than competitors (this is the original Marketing Concept).
Detailed explanation-2: -Societal Marketing is based on the principle of societal welfare. It emphasizes that an organization must make strategic marketing decisions keeping in mind the consumer wants, the organizational needs and most important the long term interests of the society.
Detailed explanation-3: -The Product concept holds that consumers will favour those products that offer the most quality, performance, or innovative features. The product concept proposes that consumers will prefer products that have better quality, performance and features as opposed to a normal product.