A social and managerial process by which individuals and organizations obtain what they need and want through value creation refers to Marketing. “Marketing is a social and managerial process by which individuals and groups obtain what they need and want through creating and exchanging products and value with others.”
What is the basic property of a service which makes it different from a product?
Intangibility is the basic property of a service which makes it different from a product. Products have tangible qualities that provide information to consumers so they can easily compare one product to another. Services, on the other hand, are intangible. Most services cannot be experienced or consumed until the purchase is made.
Which one of the following phrases reflects the marketing concept?
The solution to price competition is to develop a differentiated Offer, delivery, and image. Price competition is one of many ways that a product or service can compete in the marketplace. In price competition, two products which are substantially similar are judged by prospective consumers on their respective pricing, with the purchase made mostly on the basis of which is cheaper.
You purchase cleaning supplies for your custodial help regularly. It is showing which buying situation?
If we purchase cleaning supplies for our custodial help regularly. It is showing Straight rebuy situation. A straight rebuy is the purchasing or reordering of supplies on a routine basis from a supplier who is on an approved list.