Answered You can hire a professional tutor to get the answer.
Hello, I am looking for someone to write an article on Understanding the Concept and Process of Marketing. It needs to be at least 2250 words.
Hello, I am looking for someone to write an article on Understanding the Concept and Process of Marketing. It needs to be at least 2250 words. “Marketing is the management process which identifies, anticipates and supplies customer requirements efficiently and profitably” (Blythe, 2006, p. 5).
Customer needs refer to those products which fall under the category of basic requirements of people and are basically required by them for their survival. The customers mostly buy these products themselves and are not required by the marketers to push them to buy these products.
Wants are actually dependent on the needs of the customers and are a step ahead of it. Thus the desire of a customer to have a particular service or product to satisfy the need behind it is defined as the want of a customer.
It is necessary for the markets to identify the needs and wants of their customers to have a competitive advantage in the market and be able to provide the services or products to the customers which best suits the needs and wants of the customers. It is necessary to satisfy the specific needs and wants of the customers because it would ultimately help to generate more revenues and achieve the overall mission, vision, and objectives of a particular company.
Customer value can be defined as the values gained by him as a result of owning and utilizing a particular service or product in excess of how much it had cost to him in the process of acquiring such service or product. Customer satisfaction is dependent on the extent up to which the expectations of the buyer matches the performance of the product or service as perceived by him. If in any case the product performance does not match or falls below the expectation levels of a customer he becomes dissatisfied with the service or product offered to him. Marketing actually takes place when people take the decision of satisfying their wants and needs through an exchange. Exchange is thus a process through which one obtains the desired product from someone and in return offers something back to the person. Thus a company offers its products or services to its customers in exchange for money.
