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A retailer redesigns its marketing around continuously identifying customer needs and creating exchanges that satisfy them. Which description best reflects marketing as a management process?

Identifying, anticipating and satisfying customer requirements in a way that supports organisational goals Producing as much output as possible at the lowest cost Using promotion only after a product has been developed Focusing primarily on quarterly sales targets

Correct Answer:

Identifying, anticipating and satisfying customer requirements in a way that supports organisational goals

Explanation:

Marketing is broader than selling or promotion. It is a management process centred on identifying and anticipating customer needs, creating value and satisfying those needs while supporting organisational objectives.

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