Marketing and Sales — Flashcards

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Marketing is a total system of interacting business activities designed to plan, price, promote, and distribute want-satisfying products and services to present and potential customers. It is also the…

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A market is the total environment where buyers and sellers interact freely, and prices tend to become equal easily and quickly. Buyers and sellers do not need to meet physically; transactions can happ…

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Marketing is important because goods and services are produced to satisfy human wants, which is the ultimate objective of business. Marketing helps bring products to consumers, inform them about them,…

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The modern approach focuses on selling satisfaction rather than only selling a product. It means understanding customer needs before production and checking after sale whether the product met expectat…

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Marketing begins before production because customer needs must be understood before products are made. It continues after the product is sold to find out whether the product satisfied customer expecta…

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Selling is the process of finding customers, convincing them to buy goods, transferring ownership of goods, and collecting payment. It is mainly focused on completing the sale.

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Selling is called the heart of marketing because the purpose of marketing efforts is to sell a product or service. Marketing creates interest and demand, and selling completes the buying process.

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Selling is the process of inducting and assisting a prospective customer to buy goods or services or act favourably on an idea that has commercial significance for the seller.