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New/Morden concept or product oriented concept of the marketing:
Modern concept of marketing is a customer oriented concept. This concept is based on the assumption that a business and industrial enterprises can achieve its objects of maximizing the profits only when it considers the needs and it tries the satisfaction needs and wants. Therefore, according to this concept marketing starts with the discovery of needs and wants of consumers and ends with the satisfaction of these needs and the wants. Important definitions of this concept are as under.
According to William J. Stanton: "Marketing is a total system of interacting business activities designed to plan price, promote and distribute want satisfying products and services to the present and to the potential customers.
According to Professor Paul Mazur: "Marketing is the delivery of standard of living to the society".
According to Professor Malcolm McNair: "Marketing is the creation and delivery of standard or living to the society".
According to Professor Cundiff and Still: Marketing is the business process by which products are matched with the market and through which the transfers of ownership are affects".
Subculture: each culture consists of smaller subcultures that provide more specific identification and socialization for their members. Subcultures include nationalities, religion
How is Product Life Cycle affected? PLC is affected by following factors are as given below: a. The necessary and intrinsic nature of the product itself. b. Change into
Importance of media planning One significant role of the marketing manager is media planning. The media events of a business shouldn't be made 'on the spur of the moment.' Rath
What is Structural realignment Marketing communications agencies are attempting to adjust the way they can best serve interests of their clients. One of the results is structu
Describe about the Sales promotion tool Advertising and sales promotion are tools which allow for a high level of control by the sponsor while public relations, and publicity in
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MARKETING AND CUSTOMER VALUE Creating and delivering better customer value is the only route by which firms implement the marketing concept. Customer satisfaction is the centra
Marketing mix communication Organisations now accept that tools of the promotional mix are not the only way in which brands communicate. All parts of the marketing mix communic
Why is customer satisfaction so significant? Effective marketing focuses on two activities that are retaining existing customers and adding new customers. Although customer sat
own example of participants in the business buying process
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