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Question : Case Study:

A company focuses on understanding and fulfilling customer needs and preferences. They emphasize building long-term customer relationships through value creation. This philosophy reflects the:

 

Option 1: Selling Concept

Option 2: Production Concept

Option 3: Marketing Concept

Option 4: Product Concept


Team Careers360 21st Jan, 2024
Answer (1)
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Team Careers360 24th Jan, 2024

Correct Answer: Marketing Concept


Solution : The correct answer is (c) Marketing Concept.

The Marketing Concept is a customer-centric approach that centers on understanding and meeting customer needs and wants effectively. It emphasizes building long-term relationships with customers by delivering superior value and customer satisfaction. The primary focus is on understanding customer preferences, creating products or services that address those preferences, and ensuring that customers perceive value in what is offered. The ultimate goal is to satisfy customers while achieving the company's objectives through value creation and strong customer relationships.

 

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