MANAGEMENT

Detailed explanation-1: -The marketing concept is the use of marketing data to focus on the needs and wants of customers in order to develop marketing strategies that not only satisfy the needs of the customers but also the accomplish the goals of the organization.

Detailed explanation-2: -Relationship Marketing is a long-term strategy to build a lasting relationship with your existing customers, to build brand loyalty, and encourage repeat business. It usually focuses on maximizing the value of customer relationship rather than advertising a product or service.

Detailed explanation-3: -Attention: The first step in marketing or advertising is to consider how to attract the attention of consumers. Interest: Once the consumer is aware that the product or service exists, the business must work on increasing the potential customer’s interest level.

Detailed explanation-4: -Product development includes a product’s entire journey–from the initial idea to after its market release. The objective of product development from a business standpoint is to cultivate, maintain and increase a company’s market share by satisfying consumer demand.