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:

Balance

The difference between the total debits and credits in an account, or the equilibrium between two opposing forces or aspects.

Revaluation Surplus

This is the increase in value of an asset after it has been appraised again and is recorded as a gain in equity under a company's financials.

IFRS

International Financial Reporting Standards, a set of accounting standards developed by the International Accounting Standards Board (IASB) that guide the preparation of financial statements globally.

Fair Value

The amount of money one would expect to obtain from selling an asset or the cost incurred to settle a liability, during a structured exchange between parties in the market, as of the valuation date.