BuyFind

Marketing: An Introduction (13th E...

13th Edition
Gary Armstrong + 1 other
Publisher: PEARSON
ISBN: 9780134149530
BuyFind

Marketing: An Introduction (13th E...

13th Edition
Gary Armstrong + 1 other
Publisher: PEARSON
ISBN: 9780134149530

Solutions

Chapter 1, Problem 1.1DQ
Textbook Problem

Define marketing and outline the steps in the marketing process. (AASCB: Communication)

Expert Solution
Summary Introduction

To discuss: Marketing and the steps in the marketing process.

Introduction:

Marketing is the process where the aim is to satisfy the customers’ needs and wants. This is the management concept where goods and services are exchanged from one end to the customers’ end.

Explanation of Solution

Marketing is a wide concept that meant advertising and selling in olden times. However, in recent trends, marketing attempts to satisfy the needs and wants of the customers. The marketer has to do research, understand the needs of the customers, and then develop the products.

There are two main criteria that the marketer seeks to accomplish. They are given below:

  • Identify the wants and needs of the customers.
  • Satisfy the aforementioned needs and wants.

Steps in the marketing process:

The process in marketing consists of four stages. They are as follows:

  • Identify the best marketplace and satisfy the needs, wants, and demands for customers.
  • Design a marketing strategy by taking the customer desires into account.
  • Create a marketing plan that delivers higher value to the customers.
  • Construct a profitable relationship that makes the customer happy.
Conclusion

Thus, the above-mentioned are the steps in the marketing process.

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