Businesses are today facing three major challenges and opportunities that are globalization, advances in technology and deregulation. Key to survive in today’s world is to determine needs and wants of target customers and delivering the desired satisfaction more efficiently and effectively than competitors. Describe the various reasons companies are using the marketing concept.
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Marketing is all about understanding your customers and delivering them with what they desire. With rapid advances in technology, globalization and deregulation, the idea of customization has evolved which is about giving your customers products tailored according to there demands, which demands greater understanding of customers wants and desires and in order to do that one has to bring in his marketing skills and identify the customer desires and make a product tailored according to there demands even before the competitors to capture the market share. For reaching up to the customers in the most efficient manner three concepts are important, firstly desired product, secondly effective distribution and lastly effective promotions and all these fall under the category of marketing.
answered 8 months ago
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Businesses are today facing three major challenges and opportunities that are globalization, advances in technology and deregulation. Key to survive in today's world is to determine needs and wants of target customers and delivering the desired satisfaction more efficiently and effectively than competitors. Describe the various reasons companies are using the marketing concept.
answered 8 months ago
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