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Questions and Answers
What is one of the primary components of business management and commerce?
What is one of the primary components of business management and commerce?
- Marketing (correct)
- Supply chain management
- Sales strategy
- Human resources
Who typically conducts marketing activities?
Who typically conducts marketing activities?
- Sellers (correct)
- Consumers
- Regulators
- Investors
To whom can products be marketed?
To whom can products be marketed?
- Both businesses and consumers (correct)
- Only to retailers
- Only to other businesses
- Only to consumers
What is the main goal of marketing?
What is the main goal of marketing?
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Which of the following describes marketing?
Which of the following describes marketing?
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Study Notes
Marketing Overview
- Marketing involves activities aimed at satisfying and retaining customers.
- It is a core element of business management and commerce.
- Marketing practices are primarily executed by sellers, which can include retailers and manufacturers.
Target Audience
- Products can be marketed not only to end consumers but also to other businesses.
- This dual-focus allows for diverse marketing strategies and approaches.
Importance
- Effective marketing is essential for business growth and customer loyalty.
- Retaining customers is as important as acquiring new ones, highlighting the value of relationship management in marketing.
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