Exercises · Q11
Q.State the importance of marketing to
(i) the business, and
(ii) the consumer (any two points each).
Maharashtra MsbshseTextbookSubjectiveImportance★★★★★
26% · 11/43 Questions
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Start your 14-day free trial to unlock the full solution →(i) Importance to the business (any two, e.g.):
- Marketing generates the revenue the entire business depends on — no other function can succeed if the firm's output cannot be sold.
- It guides what to produce, by feeding genuine customer needs, discovered through market research, back into product decisions.
- It builds brand loyalty and repeat business, reducing the firm's dependence on constantly finding new, one-time customers.
(ii) Importance to the consumer (any two, e.g.):
- It improves standard of living by making a wide variety of goods and services conveniently available.
- It provides information (through advertising, labelling, and salespeople) that helps consumers make informed purchase decisions. …
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