There Are a Number of Differences Between the Product Focused

question 25

Essay

There are a number of differences between the product focused approach to marketing and the customer focused approach.Identify three areas in which there are differences between the two and be specific about the nature of the difference.Give an example for each, indicating how marketing would be carried out in the traditional approach versus the relational approach in each of the areas.

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Definitions:

Bread

A staple food made primarily of flour, water, and yeast or another leavening agent, baked into a variety of forms and eaten worldwide.

Total Expenditures

The aggregate amount of spending on goods and services in an economy over a specified period.

Total Revenue

The aggregate income a company garners from its sales of goods or provision of services over a designated period.

Quantity Demanded

The specific amount of a good or service consumers are willing to buy at a given price, holding all other factors constant.