Using a Name or Description of an Item That You

question 121

Short Answer

Using a name or description of an item that you can't point to, provide a definition by example for "abstraction." If you have difficulty doing so, try to identify the source of the trouble.

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Definitions:

Marketing Concept

A business philosophy that focuses on identifying and meeting the needs and wants of customers as the key to achieving profitability.

Environmental Forces

External factors that affect a company's ability to operate, including economic, political, social, technological, and environmental issues.

Marketing Opportunities

Potential areas where a company can generate increased demand for its products or services, often leading to business growth and expansion.

Customer Value

The satisfaction a customer experiences or expects to experience by taking a given action relative to the cost of that action.