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Question
The term 'marketing' refers to ______.
Options
Advertising, sales promotion, publicity and public relational activities
A new product needs ideas, developments, concepts and improvements
Sales planning, strategy and implementation
A philosophy that stresses customer value and satisfaction
Solution
The term 'marketing' refers to A philosophy that stresses customer value and satisfaction.
Explanation:
Marketing is a comprehensive approach that focuses on understanding and meeting customer needs and wants. It emphasizes creating value for customers and ensuring their satisfaction through various strategies and activities. While advertising, sales promotion, product development, and sales planning are components of marketing, the overarching philosophy is centred on delivering superior customer value and achieving satisfaction.
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