Asked by Casey Hamilton on Jun 08, 2024
Verified
Understanding the marketplace and especially a consumer's needs and wants, is fundamental to marketing success.
Marketplace
Any venue, physical or digital, where goods, services, or information are exchanged between buyers and sellers.
Consumer's Needs
The fundamental requirements that customers seek to satisfy when they purchase goods or services.
- Recognize the importance of consumer needs and wants in the marketing process.
Verified Answer
GH
Gisselle HernandezJun 09, 2024
Final Answer :
True
Explanation :
Understanding the marketplace and consumer needs and wants is crucial in creating effective marketing strategies that resonate with the target audience and drive sales. Without this understanding, businesses risk creating products or campaigns that don't meet the needs of their customers and ultimately don't succeed in the marketplace.
Learning Objectives
- Recognize the importance of consumer needs and wants in the marketing process.
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