Question

Bharti Industries. wanted to increase its customers by applying the marketing concept. Which of the following would be an appropriate way to apply this approach in this 21st century?

Offer more product variety than competitors

Produce high quality goods

Maximize production of goods

Focus on meeting the needs of the consumers

Relationship marketing can help a company:

reduce its strategic planning effort since the need for such planning is greatly diminished by relationship marketing.

eliminate the strategic planning process and move into tactical plans directly.

locate more effective media for use in advertising and mass marketing.

create long-term and cost-effective links with individual customers and suppliers for mutual benefit.

Answer 1

1. Option D.

• Marketing concepts are those strategies that each and every firm adopts to attract more customers.
• As Bharati industries wants to increase its customers using these concepts, it should focus on meeting the needs of its customers.
• This is because marketing concepts mainly involves strategies that focus on meeting the needs and demands of customers.

2. Option D.

• A relationship marketing refers to a marketing strategy in which firms try to create strong bonds or relationships with their customers and their suppliers so that they benefit from it and they can also satisfy the needs and demands of their customers.
• This strategy can help companies in creating long term and cost effective links with individuaI customers and suppliers for Mutual benefits.