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How does customer becomes satisfied?

Customer satisfaction is the extent to which a product’s perceived performance matches a buyer’s expectation. If performance matches expectation level, the customer becomes satisfied but if the product’s performance falls short of expectations, the customer will be dissatisfied. If performance exceeds expectation, the customer will be highly satisfied or delighted.

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What is marketing / customer value?

Value can be defined as a ratio between what the customers get and what they give in return. The customers gets benefit and assumes costs. Value = Benefits / Costs. Marketers’ concern should be to raise the value in the minds of the customers. When value of the products or services is high, customers are […]

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What is the meaning of marketing transactions?

Transaction: If exchange is the core concept of marketing, transaction is the marketing’s unit of measurement. Two parties are engaged in exchange if they are negotiating- trying to arrive at mutually agreeable terms. When an agreement is reached, we say the transaction takes place. Thus, a transaction is a trade of values between two or […]

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What is Marketing Exchange?

Exchange: Marketing occurs when people decide to satisfy needs and wants through exchange. Exchange is defined as the act of obtaining a desired object from someone by offering something in return. For exchange potential to exist, five conditions must be satisfied: There are at least two parties Each party has something that might be of […]

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Write a note on Marketing Network. Explain

Transaction marketing is part of a larger idea called relationship marketing. Relationship marketing aims to build long-term mutually satisfying relations with key parties —customers, suppliers, distributors—in order to earn and retain their long-term preference and business. Effective marketers accomplish this by promising and delivering high-quality products and services at fair prices to the other parties […]

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What is modern marketing? Explain

From the view point of modern marketing, market doesn’t stand for a place where buyers and sellers gathered to buy or sell goods. A market is the set of actual and potential buyers. More specifically, a market is an arrangement of all customers who have needs that may be fulfilled by an organization’s offerings. The […]

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Write a note on Modern Market Systems

Today we can distinguish between a marketplace, a marketspace and metamarket. The marketplace is physical, as when one goes shopping in a store; marketspace is digital, as when one goes shopping on the Internet. E commerce—business transactions conducted on-line—has many advantages for both consumers and businesses, including convenience, savings, selection, personalization, and information. For example, […]

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Explain what are the different market channels?

Marketing channels means the parties that help the company to promote, sell and distribute its goods to final buyers. To reach a target market, the marketer uses three kinds of marketing channels: Communication channels: deliver and receive messages form target buyers and include newspapers, magazines, radio, television, mail, telephone and the internet. Distribution channels: The […]

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Write a note on Marketing Program

A marketing program consists of numerous decisions on the mix of marketing tools to use for their target market. The marketing mix is the set of marketing tools the firm uses to pursue its marketing objectives in the target market. McCarthy classified these tools into four broad groups that he called the four P’s of […]

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What are the 4 Ps from sellers view of marketing?

Four P’s represent the sellers view of the marketing tools available for influencing buyers. From a buyer’s point of view, each marketing tool is designed to deliver a customer benefit. Robert Lauterbom suggested that the seller’s four P’s corresponded to the customer’s four C’s.   Four P’s                      Four C’s Product ————–  Customer solution Price     […]

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