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Answer:
Product Concept: When the supply of products increases customers begins to prefer products of superior quality and features. Therefore, the focus shifted from quantity of production to quality of products. 3. Sales Concept: With the passage of time the marketing environment underwent future
change of quality and availability does not ensure survival and growth of the firm because of competition to sell quality products. Therefore, firms must undertake aggressive selling and promotion efforts to make customer buy their products
4. Marketing Concept: Implies that a firm can achieve its goals by identifying needs of the customer and satisfying them better than the competitors. Customer satisfaction is the precondition for realizing the firm's goal and objectives,
5. Societal Marketing Concept: Under this concept customer satisfaction is supplemented by social welfare. Some products bring harmful effect on environment so these should not be supplied. It pays attention to the social, ethical and ecological aspects of marketing Raman, Joginder, John, Iqbal and Shreya are friends. They are operating different business. Each one has his/her own concept regarding operating their business. Raman believes in producing products at a large scale. Thereby decreasing the average cost of the products and selling it's at a reasonable price.
Joginder focuses on providing best quality products because he believes that a customer always wishes to buy a good quality product. The price of the product is secondary, John is of the belief that most important aspect of business is sales and so he undertakes aggressive selling & promotional effort. Iqbal believes that his firm can achieve its goals only by identifying the needs of the customer & satisfying them better than the competitors Shreya on the other hand feels that her firm has a responsibility towards the
Answer:
5427 is the predecessor of 5428