GK
MARKETING MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Which one of the three basic approaches used customarily explaining the Marketing System?
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Commodity, institutions and functional approach.
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Commodity, functional risks, management approach.
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Product, service mix, functional and institutional approach.
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None of the above
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Explanation:
Detailed explanation-1: -The commodity approach involves the examination of the marketing system for each of a number of specific commodities. It takes as its focal points individual products. The manner in which individual products are marketed is stressed in this approach.
Detailed explanation-2: -Functional approach. The functional approach is one of the methods used in classification of activities that occur in the marketing processes by breaking down the processes into functions. A marketing function is defined as a major specialized activity performed in accomplishing the marketing process.
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