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Marketing is used by management in different markets. Focused customer requirements fulfil the profit needs and encourage customers to maintain a healthy relationship with the organisation. Basic concepts of marketing are:
Demand is a condition where an individual desires to purchase a product or service with the ability to pay. It reflects the willingness of the individual to buy goods or services. You can seek further assistance or marketing homework help in Canada from our experts.
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The requirements of different products and services to fulfil the basic essentials such as food, shelter, and clothing are known as needs. It can be related to physiological, security or psychological as per the requirements of the customers. A ‘want’ is the desire of an individual for a product or service with the ability to pay.
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