MANAGEMENT

Detailed explanation-1: -In marketing, a need is the consumer’s desire to get functional utility out of an offering. It’s the desire for the offering’s specific benefit that helps the consumer get the job done. On the other hand, a want is a desire for offerings or benefits that are not necessary. For example, food is a consumer need.

Detailed explanation-2: -The two words are often used interchangeably, even though they fulfill two extremely different needs. Marketing is the culmination of all activities that set the stage for sales (e.g., the transaction itself) to take place. It is the marketer who establishes a brand and maintains its reputation in the eyes of others.

Detailed explanation-3: -Wants are requests directed to specific types of items. Demands are requests for specific products that the buyer is willing to and able to pay for. In a consumer market examples are usually very clear to identify. A person might have a need for reliable transportation.

Detailed explanation-4: -The correct answer is False. Marketing and selling activities are not the same activities. Selling is the process that transforms products, services or any offering into money by selling it to the customers. It is a part of marketing but marketing encompasses much more than selling.