Suyash is very thirsty. He is in the middle of the desert. Soon he finds a cold drinks shop. He goes and purchases three bottles and drinks them to satisfy his thirst. After drinking the cold drink he realises that it has beem developed after analyzing the needs and preferences of the potential customers. On observing the outer side of the bottle he finds details like contents, flavour, size, price, etc.What is falling under the want here?

MARKETING MANAGEMENT

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Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]

Suyash is very thirsty. He is in the middle of the desert. Soon he finds a cold drink’s shop. He goes and purchases three bottles and drinks them to satisfy his thirst. After drinking the cold drink he realises that it has beem developed after analyzing the needs and preferences of the potential customers. On observing the outer side of the bottle he finds details like contents, flavour, size, price, etc.What is falling under the want here?

A	Thirst
B	Cold drink
C	Flavour
D	Price

Explanation:

Detailed explanation-1: -Answer: ‘Cold Drink’ is ‘want’ here and ‘Thirst’ is ‘need’.

Detailed explanation-2: -Philip Kotler is widely acknowledged as the father of modern marketing and with 57 books to his name it’s not hard to understand why he is such an authority.

Detailed explanation-3: -Branding is a function of marketing that facilitates product differentiation. Advertising is the component of promotion mix being used by the company “Giving the company power over prices through product differentiation, innovative advertising and ensured brand loyalty.”

Detailed explanation-4: -The four Ps are a “marketing mix” comprised of four key elements-product, price, place, and promotion-used when marketing a product or service. Typically, businesses consider the four Ps when creating marketing plans and strategies to effectively market to their target audience.

There is 1 question to complete.

GENERAL KNOWLEDGE

GK

MARKETING MANAGEMENT