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

question 57

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 and briefly characterize the eight demand states described in the text.

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Definitions:

Measurable

Capable of being quantified or precisely assessed.

Social Responsibility Pyramid

A framework suggesting that businesses are responsible to their stakeholders in a hierarchical manner, starting from economic, legal, ethical, to philanthropic responsibilities.

Milton Friedman

was an American economist known for his strong belief in free-market capitalism and for being a leading proponent of monetarism.

Economic Responsibility

Refers to the duty of organizations to make decisions that benefit the financial health of both the company and the wider economy.