MANAGEMENT

Detailed explanation-1: -Philip Kotler defines marketing as “the science and art of exploring, creating, and delivering value to satisfy the needs of a target market at a profit. Marketing identifies unfulfilled needs and desires. It defines, measures and quantifies the size of the identified market and the profit potential.

Detailed explanation-2: -Definition. Customer Needs Identification is the process of determining what and how a customer wants a product to perform. Customer Needs are non-technical, and they reflect the customers’ perception of the product, not the actual design specifications, although frequently they are closely related.

Detailed explanation-3: -In marketing, satisfying customer needs and wants is the easiest way to increase profits and sell more products and services. The definition of desire in marketing is finding what the consumer is longing for and needing. Marketing strategies look to fulfill different needs to get the consumer to buy the product.

Detailed explanation-4: -A marketing process is: “A series of steps that allow organizations to identify customer problems, analyze market opportunities, and create marketing materials to reach the desired audience.”

Detailed explanation-5: -Market orientation is an approach to business that prioritizes identifying the needs and desires of consumers and creating products and services that satisfy them.