GENERAL KNOWLEDGE

Detailed explanation-1: -According to modern concept, marketing starts with identifying consumers needs, then plan the production of goods and services accordingly to provide them the maximum satisfaction. The terms ‘marketing’ and ‘selling’ are related but not synonymous.

Detailed explanation-2: -Modern marketing concept is a broad concept. It relates to finding out the consumers and to develop a product as per their needs rather than providing them with the already manufactured goods. Modern marketing concept aims at complete customer satisfaction by fulfilling their needs and wants.

Detailed explanation-3: -Modern marketing is consumer-oriented when you shape your strategy around what your customers want rather than what you want to sell. The consumer-oriented marketing philosophy requires finding out what your customers want, Marketing91 advises. Then, you shape your marketing strategy accordingly.