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marketing concept
Question | Answer |
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Marketing | Marketing is the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large. American marketing Association |
Marketing Mix | The marketing mix is comprised of four marketing activities; product, price, promotion and place, also known as the 4P's. A business tries to integrate these activities to satisfy the needs of consumers. |
Functions of Marketing | There are seven basic functions of marketing Distribution, Financing, Marketing Information Management, Pricing, Product/Service management, promotion, and selling. |
Situation Analysis | The systematic collection and study of past and present data to identify trends, forces, and conditions with the potential to influence the performance of the business and the choice of appropriate strategies. |
Marketing Concept | The idea that you must satisfy a customer's needs and wants in order to make a profit. |
Customer | The actual or prospective purchaser of p |
Target Market |