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Define Need in marketing in briefly.
Need is a state of felt deprivation. This includes fundamental physical needs for clothing, food, warmth and also safety; as social needs for belonging and affection; as well individual needs for awareness and self-expression. It is an essential part of the human makeup. Whereas want, which is the form taken by a human need as shaped through culture and individual personality as well. Demands are human wants which are backed through buying power. Individuals have almost unlimited wants but restricted resources.
Define marketing mix
Franchising This is a form of company in which a firm sells the rights to create its product or service to other service providers who necessary operate under the selling firm'
Problem 1: (a) Define the four most important cost concepts. (b) Describe clearly the statement, ‘Buyer and seller may have different perspectives on what price means'.
Objective of pricing decision: a firm may choose its pricing objectives from any of the following: 1. To maximize the profits: the primary objective of the pricing decision i
Q. Give main decision areas in packaging? O R P ackaging & labeling is an important part of product management? How? O R Show th e main decision
How many types of modules are included in Market Implementation Evaluation and Controlling? The five modules of MIEV or Market Implementation, Evaluation and Controlling are
Marginal Approach to Ad-budget: - In this schema advertisement budget is decided on the basis of marginal costs and marginal revenue of advertising. Marginal cost here signifies i
Question 1: (a) Describe a Press conference. (b) A Press Conference could be planned well in advance to make it effective. Several elements should be considered to make it s
Steps in MIS design: 1. Define the system: the system for which design is to be made has to be defined; in the terms of elements, the relationship and its boundries. Th
Importance of Effective communication Effective communication is very important to organisations, which is why they use a variety of promotional tools. Advertising, sales promo
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