Advertisements
Advertisements
Question
Marketing is essential for the success of a business organisation. Give five reasons to support your answer.
Solution
Marketing is essential for the success of a business organisation.
The reasons behind the statement are as follows:
- Creating demand: Marketing enables the firm to determine what the customers want and then to design the product according.
- Providing Consumer Satisfaction: Marketing effectively considers the product's pricing, transportation, warehousing, and distribution channels.
- Co-ordination: Marketing establishes co-ordinates with other managerial departments.
- Profit maximisation: Marketing aims to maximise profit through consumers' satisfaction. It is the only way for the firm to generate revenue and profits.
APPEARS IN
RELATED QUESTIONS
What is the importance of marketing from a farmers ‘point of view’?
Explain the following term/concept.
Marketing Mix
Justify the following statement.
Marketing is significant to consumers.
Justify the following statement.
Marketing helps in increasing consumer awareness.
State the importance of marketing to the firm.
Explain the importance of marketing to the consumers.
Explain importance of marketing to firm.
Explain importance of marketing to consumers.
Study the following case/situation and express your opinion:
Mr. A deals in import and export business so he needs different foreign currencies. For the expansion of his business, he borrows money from a commercial bank. He invests his funds in the equity shares.
- From where does Mr. A borrow money?
- Name the market where does Mr. A invest his funds.
- Which type of currency is required for the international market?
How marketing helps in improvement of standard of living of people?
