Q.9. Give the objectives of marketing management. Ans. Objectives of Marketing Management: The objectives of marketing management are as follows: 1. Satisfying Customer’s Needs and Wants: Marketing managers should carefully determine the needs and demands of the customers in order to satisfy them with their products and services. The process of marketing management is customer-oriented … Read more
Q. Differentiate among needs, wants and demands. Can marketers, create needs? Ans. Marketing thinking starts with the customer’s needs. Today each marketer wants to retain M.B.A to satisfy the customers because of the intense competition. Differentiate among needs, wants and demands: A human need is a state of felt deprivation of some basic satisfaction. Needs … Read more
Q.7. Explain the concept of holistic marketing orientation. Or Define holistic marketing and explain it with an example. Ans. Holistic Marketing Orientation: Holistic marketing is a new paradigm in marketing. It does not focus on marketing one area of businesses, like holistic businesses only, but is a concept of marketing that strives to be an … Read more
Q.6. What is marketing myopia? Ans. Marketing Myopia: Marketing myopia is the short-sighted and inward-looking approach to marketing that focuses on the needs of the firm instead of defining the firm and its products in terms of the customer’s needs and wants. The concept was given by Theodore C. Lewitt. Its theme is that the … Read more
Q.5. What are the components of relational marketing orientation? Ans. Components of Relational Marketing Orientation: Relational marketing orientation is made u of several inter-linked components which are: 1. Trust: It is the core element that serves as the basis of long-term relationships since short-term inequalities are unavoidable. They can easily be resolved and will result … Read more
Q.4. Write a short note on a goods-services continuum. Or Explain the concept of the goods-services continuum Ans. Goods-services Continuum: It enables marketers to see total products’ relative goods/services composition. A product position on the continuum, in turn, allows marketers to spot opportunities. At the pure goods ends of the continuum, goods with no related … Read more