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List the Four Steps in the Marketing Process and Their

question 4

Essay

List the four steps in the Marketing Process and their functions.


Definitions:

Total Utility

The total satisfaction received from consuming a given total quantity of a good or service.

Marginal Utility

The increase in contentment or advantage a person obtains by consuming another unit of a good or service.

Marginal Utility

The additional satisfaction or usefulness obtained from acquiring or consuming one more unit of a product.

Total Utility

The aggregate level of satisfaction or fulfillment that a consumer receives through the consumption of goods or services.

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