GENERAL KNOWLEDGE

Detailed explanation-1: -An increasingly popular means of using co-purchasing patterns to generate cross-selling suggestions are Internet recommendation agents. On a continuum from mass marketing to one-to-one marketing, market segmentation is in the middle.

Detailed explanation-2: -Mass marketing is designing products and directing marketing activities to appeal to the whole market.

Detailed explanation-3: -The production concept holds that consumers will favor products that are available and highly affordable. Therefore, it dictates that management should focus on improving production and distribution efficiency.

Detailed explanation-4: -Lastly, there is the post-purchase phase. In this phase, the consumer assesses the purchase, and if he is satisfiedhe will likely make repeat purchases and will generate word of mouth about his purchase.

Detailed explanation-5: -Marketing concept is a customer-centered “sense-and-respond” philosophy. The marketing concept takes an “outside-in” perspective. The idea that a company’s marketing decisions should consider consumers’ wants, the company’s requirements, consumers’ long-run interests, and society’s long-run interests.