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BASIC MARKETING 18th Edition by Jerome McCarthy William Perreault, Joseph Cannon
Edition 18ISBN: 978-0077577193BASIC MARKETING 18th Edition by Jerome McCarthy William Perreault, Joseph Cannon
Edition 18ISBN: 978-0077577193 Exercise 1
Define the marketing concept in your own words, and then explain why the notion of profit is usually included in this definition.
Explanation
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The marketing concept can be defined as the approach taken by the marketing people of the organization to meet the needs and expectations of the customers through putting the total company effort and hence achieving the profit and long term sustainability. The marketing concepts highlight the actions taken by the marketing team to identify the needs and requirement of the people and achieving profit through meeting those needs.
Here the notion profit plays a vital role. The primary objective of the organization through meeting the demands of the customers are to achieve profit which can help them to operate further in the market. Almost all private organizations are profit oriented and hence, they exhibit high end marketing activities to gain profit and sustainability for the organization. The marketing concepts reveals the ways for which the organization can earn more profit and revenue generation.
Here the notion profit plays a vital role. The primary objective of the organization through meeting the demands of the customers are to achieve profit which can help them to operate further in the market. Almost all private organizations are profit oriented and hence, they exhibit high end marketing activities to gain profit and sustainability for the organization. The marketing concepts reveals the ways for which the organization can earn more profit and revenue generation.
BASIC MARKETING 18th Edition by Jerome McCarthy William Perreault, Joseph Cannon
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