MANAGEMENT

Detailed explanation-1: -Marketing is defined as both “the process or technique of promoting, selling, and distributing a product or service, ” and “an aggregate of functions involved in moving goods from producer to consumer."

Detailed explanation-2: -Broadly speaking, there are two types of customers: internal customer and external customer.

Detailed explanation-3: -There are two key types of customer benefits: product and/or service value and service experience value. Other types of customer benefits can include social value, personal value, and psychological value.

Detailed explanation-4: -At its simplest, marketers define customer value as how much customers perceive your products or services to be worth. It’s imperative that your customers think your products or services hold greater value than their price-or no one will buy (or use your service).