BUISENESS MANAGEMENT
MARKETING
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
|
|
True
|
|
|
False
|
|
|
Either A or B
|
|
|
None of the above
|
Detailed explanation-1: -To sum up, the marketing concept is based on the following pillars: (i) Identification of market or customer who are chosen as the target of marketing effort. (ii) Understanding needs and wants of customers in the target market. (iii) Development of products or services for satisfying needs of the target market.
Detailed explanation-2: -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.
Detailed explanation-3: -The marketing concept rests on four pillars: target market, customer needs, integrated marketing and profitability.