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Define the Exchange process
Exchange process is developed and managed by researching consumer/ stakeholder needs, identifying, selecting and targeting particular groups of stakeholders / consumers who share similar discriminatory characteristics, including wants and needs and developing an offering which satisfies identified needs at an acceptable price and is made available through particular sets of distribution channels. Next task is to make the target audience aware of existence of the offering. Where competition or other impediments to positive consumer action exist, like lack of motivation or conviction, a promotional programme is developed and used to communicate with targeted group.
The consumer adoption process and its various stages are as follows: Consumer adopts the use of product according to his needs and his own decisions. Adoption process is just li
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What is the meaning of societal marketing concept? Meaning: Societal marketing concept is the idea which the organization must find out the needs, interests and wants of
Understanding other cultures is vital to success in the global marketplace. Refer to Table 21-3 which lists some blunders in International Marketing. One of my favorite blunders ha
What are gauging tools comprised in annual plan control? Annual plan control consists of at least five performance gauging tools as illustrated below in points: a) Sales a
Problem 1 You are the marketing manager of a bank and you want to persuade the general manager that it is important to include advertising in your organizations marketing commu
The Societal Marketing Concept The societal marketing concept holds that the organization should find out the needs, wants, and interests of focused markets. Then It should de
Role of the salesman: 1. Diagnostic: this involves a salesman probing and finding the cause of a problem. Like an expert doctor, a salesman diagnoses the needs of his
Suppose a greeting card is 4 inches long on one side. About how long should the other side of the card be in order for it to be a Golden Rectangle?
What is the role of advertising agencies in distribution channels? Advertising agencies: Such facilitating agencies help within facilitating negotiation, through creating
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