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Marketing management involves identifying and meeting customer needs from "summary" of Fundamentals of Management (For B.Com, BBA, BBM and BMS) by J.P. Pathak
Marketing management is all about understanding the needs and wants of customers. It is essential for companies to identify what customers are looking for so that they can tailor their products and services to meet those needs effectively. By doing so, businesses can gain a competitive edge in the market and attract loyal customers who are satisfied with what they offer. To identify customer needs, marketing managers must conduct thorough market research to gather relevant data and insights. This may involve analyzing consumer behavior, conducting surveys, studying competitors, and monitoring industry trends. By doing so, companies can gain a better understanding of what drives customer preferences and purchasing decisions. Once customer needs are identified, marketing managers must work towards meeting them through strategic planning and implementation. This involves developing products and services that align with customer preferences, setting competitive prices, promoting offerings through effective communication channels, and ensuring a seamless customer experience.- Companies can build strong relationships with their target audience and foster brand loyalty. This can lead to repeat business, positive word-of-mouth referrals, and increased customer satisfaction. Ultimately, understanding and meeting customer needs is crucial for the success of any marketing strategy and the long-term growth of a business in today's competitive marketplace.
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