Marketing is the process of communicating the value of a product or service to customers‚ for the purpose of selling that product or service. Marketing techniques include choosing target markets through market analysis and market segmentation‚ as well as understandingconsumer behavior and advertising a product’s value to the customer. From a societal point of view‚ marketing is the link between a society’s material requirements and its economic patterns of response. Marketing satisfies these needs
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has its unique identity. Marketing execute a vital role in achieving the ultimate goal of business organization-profit maximization. Different companies follow different strategies and concepts of marketing according to their selected target market and customer. Marketing has to face innumerable challenges in its way of work. In this report‚ we have tried to cover the different strategies or concepts followed by different companies or industries in Bangladesh‚ marketing challenges in Bangladesh
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Professionals within different agencies and organisations all have specific responsibilities regarding safeguarding of children and young people. The concept of integrated working involves everyone who works with children and young people‚ and is a central part of Working Together to Safeguard Children (2013). There are many different organisations involved when there is any suspicion that a child may have been abused or actually harmed. Some of the main ones being: Educational Services OFSTED –
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What is the marketing mindset? How is a marketing concept different from a product or selling concept? Describe the steps in the buyer decision process. Would you say you engaged in these steps when choosing your education? The marketing mindset means that the organizations concentrates on satisfying the needs of it’s customers. It is the orientation to consumer needs and organizational integration of all activities to meet those needs. The strategy says‚ that the company should start a dialogue
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Assignment # 12 2.) How does the “standardized versus localized” debate apply to advertising? Communication takes place only when the intended meaning transfers from the source to the receiver. This can be a problem when a standardized approach is used. The message is not able to get through to the receiver due to different reasons such as lack of knowledge of the audience. There are people who feel an advertisement can be used anywhere in the world due to the converging tastes and preferences
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- Q.2 Explain the marketing concepts with its relevance in today’s marketing environment. Answer: Marketing Concepts : Studies reveal that different organisations have different perceptions of marketing. And these differing perceptions have led to the formation of different concepts of marketing such as 1. The Exchange Concept 2. The Production Concept 3. The Product Concept 4. The Selling Concept 5. The Marketing Concept 6. The Societal Marketing Concept. 1. The Exchange Concept : The
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A Generic concept of Marketing Marketing has shown the aptitude to re-examine its focus‚ techniques and goals as the surrounding society changes and new problems require attention. Marketing evolved through a commodity focus‚ an institutional focus‚ a functional focus‚ a managerial focus and a social focus. Each new focus had its advocates and critics. Marketing emerged each time with a refreshed and expanded self-concept. There are three stages of marketing consciousness: 1. Consciousness one-
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standards of manufacturers‚ sellers‚ and advertisers in the interests of the buyer.[2] In economics‚ consumerism refers to economic policies placing emphasis on consumption. In an abstract sense‚ it is the belief that the free choice of consumers should dictate the economic structure of a society (cf. Producerism‚ especially in the British sense of the term).[3] The term "consumerism" was first used in 1915 to refer to "advocacy of the rights and interests of consumers" (Oxford English Dictionary)
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Price elasticity of demand is defined as how demand changes as a result of a change in price. It can be said that if a reduction in price leads to an increase in demand then demand is relatively elastic. Elasticity is usually negative. There is an alternative scenario where demand will increase as price does so too. This happens only in the case of Giffen goods‚ where elasticity is positive. The formula for price elasticity of demand is: Percentage Change in Quantity Demanded Percentage Change
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You should hire me‚because I have many great qualities that significantly increase the productivity of this business such as I can do very complex math in seconds‚I can also drive heavy machinery‚I also have never failed a semester of school‚I have great people skills‚and I have great confidence. Now you’re probably thinking to yourself oh wow this kid can do simple addition like two plus two.Well not exactly i can do multiplication that is very useful in this business‚that could help a customer
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