Purposes Of Marketing

Question 1

What is “anticipate demand”?

Answer 1

Anticipate demand means predicting future customer needs and preferences using market research, like surveys, interviews, or feedback.

Question 2

What is “recognise demand”?

Answer 2

Recognise demand helps businesses identify unmet customer needs and trends, allowing them to offer the right products or services effectively.

Question 3

What is “stimulate demand”?

Answer 3

Stimulate demand involves using ads, discounts, loyalty schemes, and promotions to encourage purchases and increase customer interest in a product or service.

Question 4

What is “satisfy demand?”

Answer 4

Satisfy demand means meeting customer needs by understanding their wants, creating suitable products or services, and promoting them to ensure customers are aware. The goal is to increase sales by offering what customers want.