What is marketing? Briefly describe the marketing process
What will be an ideal response?
Marketing can be defined as the process by which companies create value for customers and build strong customer relationships in order to capture value from customers in return. The marketing process consists of five steps. In the first four steps, companies work to understand consumers, create customer value, and build strong customer relationships. In the final step, companies reap the rewards of creating superior customer value. By creating value for consumers, they in turn capture value from consumers in the form of sales, profits, and long-term customer equity.
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Aleve Company purchased inventory on credit. The effect of this transaction is that the
a. earnings per share decreased b. working capital increased c. debt-to-equity ratio increased d. earnings per share increased
The key idea in successful nichemanship is specialization. Which of the following specialists would most closely be identified with the characterization of being an organization that limits its selling to one customer?
A) end-user specialist B) vertical-level specialist C) customer-size specialist D) specific-customer specialist E) quality-price specialist
Customer evangelists are those who ________
A) use personal selling methods to market products and services B) spread the word about their good experiences with a brand or product C) use their expertise to influence people about specific products D) work with quality-assurance teams to improve product safety E) evaluate newly launched products in the marketplace
Fixed costs are costs that in total remain constant within the relevant range as the level of output increases or decreases
Indicate whether the statement is true or false