Marketing can be defined as?
Correct answer: D. All of above
- A. Creating value for customers
- B. Building strong relationships
- C. Capturing value from customers
- D. All of above
Explanation
Modern marketing involves creating value for customers, building profitable relationships and capturing value in return through sales, loyalty and customer lifetime value. Therefore all three statements describe connected parts of marketing.
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About Marketing
Marketing covers how organisations identify customer needs, create value and exchange products or services through suitable markets. Key concepts include market segmentation, targeting, positioning, consumer behaviour, the marketing mix of product, price, place and promotion, branding, product life cycle and differences between marketing and selling.
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