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2. Essay on the Concepts of Marketing: Elements of Marketing Concept: A company adopting the marketing concept has three distinguishing elements around its marketing function: 1. It has consumer-orientation in its business planning and activities. 2. It focuses its attention to corporate objectives, including profit.
Why is marketing an integral part of decision making?
(5) Interests of the enterprise and society can be harmonized as profit through service is emphasized. (6) Marketing research is now an integral part of marketing process and it is a managerial tool in decision making in the field of marketing.
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1. Marketing is both an art and a science—there is constant tension between the formulated side and the creative side. True (easy) p. 2 AACSB (Reflective Thinking) 2. Large, well known businesses have newly empowered customers, and have had to rethink their business models.
Last Update: Oct 2021
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