The Fundamental Purpose of Marketing Is to Create Value By

question 106

Multiple Choice

The fundamental purpose of marketing is to create value by:

• A)hiring the right people for the promotion of the products being manufactured.
• B)educating employees about sales and customer preferences.
• C)fixing the measure of sacrifice that a customer is willing to make in order to acquire a specific product.
• D)developing a variety of offerings, including goods, services, and ideas, to satisfy customer needs.
• E)delivering a product on offer to a customer.

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Definitions:

Sales Promotion

A marketing strategy where short-term incentives are offered to encourage the purchase or sale of a product or service.

Promotion

Activities designed to increase the sales of a product or service, often through advertising or incentives.

Sales Promotion

Marketing activities aimed at boosting sales and strengthening brand loyalty by offering short-term incentives to customers.

Promotional Mix

A combination of marketing tools, including advertising, sales promotion, public relations, personal selling, and direct marketing, used to achieve communication objectives.