GENERAL KNOWLEDGE

GK

MARKETING MANAGEMENT

Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
Definition of marketing is the process by which companies create ____ for customers and build strong customer ____ in order to capture value from customer in return (Kotler, 2016).
A
needs, value
B
value, relationships
C
wants, needs
D
relationships, value
Explanation: 

Detailed explanation-1: -In 1980, he defined marketing as “satisfying needs and wants through an exchange process", and in 2018 defined it as “the process by which companies engage customers, build strong customer relationships, and create customer value in order to capture value from customers in return".

Detailed explanation-2: -Philip Kotler defines marketing as “the science and art of exploring, creating, and delivering value to satisfy the needs of a target market at a profit. Marketing identifies unfulfilled needs and desires.

Detailed explanation-3: -According to Kotler & Keller (2012), marketing is how to identify and meet human needs and social needs. One of the simplest definitions of marketing is “meeting profitable needs", that is how to turn a need into a profitable business opportunity.

Detailed explanation-4: -According to Kotler and Armstrong, “Marketing is the process by which companies create value for customers and build strong customer relationships in order to capture value from customers in return.” Mareting starts with creating value for customers.

Detailed explanation-5: -Kotler has defined marketing as the process by which companies engage customers, build stronger customer relationships, and create customer value for capturing value from customers in return.

There is 1 question to complete.