Commercial Applications
Answer
A market means a mechanism through which products and services are exchanged, sold and transferred. According to Philip Kotler, "A market is the set of all actual and potential buyers of a product." In a wider sense, a market refers to the sum total of the environment in which resources, activities and attitudes of buyers and sellers affect the demand for products and services.
Related Questions
In which stage of marketing, manufacturers believed that customers would buy the product if quality was good?
- Marketing-oriented stage
- Production-oriented stage
- Sales-oriented stage
- Product-oriented stage
In which stage, importance to consumer satisfaction was recognised and business policies were designed to provide value satisfaction to customers?
- Sales-oriented stage
- Marketing-oriented stage
- Social-marketing stage
- Consumer-oriented stage
Briefly explain the term 'Marketing Oriented Stage.'
What is meant by inhouse market?