Introduction to Marketing Concepts
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Questions and Answers

What is the main difference between selling and marketing concept?

Selling concept focuses on the product itself, while marketing concept focuses on delivering value to the customers.

Define the societal marketing concept.

Societal marketing concept holds that marketing strategy should deliver value to customers in a way that maintains or improves consumer and society well-being.

According to the societal marketing concept, what should good marketing decisions consider?

Consumers' wants, the company's long-run investments, and society's long-run interests.

What are the key components involved in the societal marketing concept?

<p>Consumers, company, and society.</p> Signup and view all the answers

What are the major developments in marketing in the 21st century?

<p>Digitalization, globalization, ethics, social responsibility, and not-for-profit marketing.</p> Signup and view all the answers

How does the selling concept differ from the marketing concept in terms of focus?

<p>Selling concept focuses on the product, while marketing concept focuses on delivering value to customers.</p> Signup and view all the answers

What is the core philosophy of the societal marketing concept?

<p>To deliver value to customers while improving both consumer and society well-being.</p> Signup and view all the answers

In the 21st century, what are the new challenges that marketers face?

<p>Digitalization, globalization, ethics, social responsibility, and not-for-profit marketing.</p> Signup and view all the answers

Explain how societal marketing concept considers long-term interests.

<p>By focusing on consumers' wants, the company's long-run investments, and society's long-run interests.</p> Signup and view all the answers

How does the societal marketing concept benefit consumers, companies, and society?

<p>By satisfying consumer wants, generating profits for the company, and improving society's well-being.</p> Signup and view all the answers

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