BA 211 Study Guide - Quiz Guide: Customer Relationship Management, Market Segmentation, Direct Marketing
Document Summary
The aim is to acquire comparative advantage in the market. Enterprises want to create value and satisfaction for the consumer. For this to be accomplished, they need a continuous flow of information. The starting-point for a lot of products and for marketing plans is the perfect comprehension of the consumer"s needs and wants. Marketing is the management process of identifying, anticipating and satisfying consumer needs and wants profitably. Consumers are the users of any product or service. They are also considered as the starting point of any business and also the survival of every business depends on how well consumers and clients are treated. A consumer feels physiologically deprived of basic necessities such as food, clothing and shelter which are his needs and his wants are based on personal knowledge, culture and personality. This essay will discuss strategies how marketers shape what people wants and these are by means of advertisements, marketing research, market.
