Marketing - Unit 3

Question 1

Marketing involves identifying and understanding…

Answer 1

Customers needs and wants

Question 2

What is the marketing process?

Answer 2

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Market research to identify and understand customer
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Developing and testing products and services
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Communicating products and services to companies
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Question 3

Businesses need to think about marketing in order to? Name at least 2.

Answer 3

• Reduce risk of product failure
• Understand their customers
• Communicate products effectively to encourage customers to buy them
• Keep up to date with market trends so products can continue to meet customer needs