GK
MARKETING MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Societal concept:
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Consumers will favor products that are available and highly affordable. Management should focus on improving production and distribution efficiency.
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Consumers will favor products that offer the most quality, performance, and innovative features. Focus on making continuous product improvements.
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Marketing strategy should deliver value to customers in such a way that improves both customers as wells as society’s well being and long-run interests.
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Organizational goals are achieved by knowing the target markets’ needs and wants and delivering the desired satisfactions better than competitors do.
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It is typically practiced with unsought goods that the company needs to sell and generally results in aggressive selling practices. The company sells what it makes rather than what the market wants.
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Explanation:
Detailed explanation-1: -Societal Marketing emphasizes social responsibilities and suggests that to sustain long-term success, the company should develop a marketing strategy to provide value to the customers to maintain and improve both the customers’ and society’s well-being better than the competitors.
Detailed explanation-2: -Essentially, societal marketing can: Improve or establish a favorable image of your company. Increase your company’s competitive advantage, placing you above your competitors and increasing your market share. Help to build customer relationships, leading to long-term customer retention.
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