MANAGEMENT

Detailed explanation-1: -Marketing involves the satisfying customers’ needs and wants. Marketing has a value creation and delivery sequence that consists of three parts. That is choosing the value, providing the value, and communicating the value.

Detailed explanation-2: -The importance of marketing for your business is that it makes the customers aware of your products or services, engages them, and helps them make the buying decision. Furthermore, a marketing plan, a part of your business plan helps in creating and maintaining demand, relevance, reputation, competition, etc.

Detailed explanation-3: -Listening to your customer’s needs helps to: Create products or services that appeal to the customer, whilst meeting their expectations; Optimise customer service relations, because understanding your customer’s needs will help you better identify how to resolve their problems; Anticipate future customer needs.

Detailed explanation-4: -Marketing is responsible for communicating with customers about products, explaining who is offering them and why they are desirable. Marketing is also responsible for listening to customers and communicating back to the provider about how well they are satisfying customer needs and opportunities for improvement.