Tag: marketing environment

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Questions Related to marketing environment

Multiple choice commerce marketing mix marketing environment meaning and definition of marketer role of marketing

The product will be designed according to the needs of _______.

  1. Potential buyers

  2. People

  3. Residents

  4. Audience
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

In marketing, the company selects the target market and tries to satisfy consumer's needs from that specific market to increase the efficiency of marketing. Growing consumerism has made companies to design their products complying to the potential buyer's needs and demand.  

Multiple choice commerce marketing mix marketing environment meaning and definition of marketer role of marketing

Marketing can play a significant role in economic development.

  1. True

  2. False
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Marketing is an economy's arbiter between productive capacity and consumer demand. In addition, marketing process is a critical element in the effective utilization of the production resulting from economic growth, and balance between higher production and higher consumption.

Multiple choice commerce marketing mix marketing environment meaning and definition of marketer role of marketing

__________ comes from a firm's ability to perform activities more distinctively and more effectively than rivals, thus is allowing a firm to gain an edge over the rivals.

  1. Competitive advantage

  2. Competence

  3. Core competence

  4. Value addition
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Competitive advantage refers to factors or capabilities that allow a company to produce goods or services better or more cheaply than its rivals. This edge enables the firm to generate more sales or superior margins.