Marketers Are Skilled in Stimulating Demand for a Company's Products

question 142

Essay

Marketers are skilled in stimulating demand for a company's products, but this is too limited a view of the tasks they perform. Just as production and logistics professionals are responsible for supply management, marketers are responsible for demand management. Marketing managers seek to influence the level, timing, and composition of demand to meet the organization's objectives. List, briefly characterize, and supply an example for each of the eight demand states described in the text.

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Definitions:

Barack Obama

The 44th President of the United States, serving from 2009 to 2017, notable for being the first African American to hold the office.

Standard Deviation

A way of measuring how much variety or distribution exists among numerical values.

Expected Value

In probability theory, a weighted average of all possible values of a random variable, reflecting its anticipated outcome.

Sample Proportion

A statistic that estimates the fraction of the population that has a certain trait, characteristic or behavior, calculated as the number of observations in the sample with that trait over the total sample size.