Marketing

Question 1

marketing and its importance in a global economy

Answer 1

-marketing: creating, communicating, and delivering value to customers and managing customer relationships
-helps to reach a wider audience and create a global presence
-create tailored marketing campaigns
-build brand recognition and loyalty

Question 2

marketing functions and related activities

Answer 2

-market research, product development, pricing, promotion, distribution, customer service

Question 3

factors that influence customer/client/business buying behavior

Answer 3

-economic conditions, customer needs and wants, competition, and marketing efforts

Question 4

connections between company actions and results

Answer 4

-if a company takes steps to influence consumer buying behavior, such as offering discounts or running promotional campaigns, they can increase their market share
-if a company invests in research and development, they can create innovative products that will attract more customers and increase their profits.