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Understanding Marketing: Concepts, Demand, and Customer Value Explained

Marketing encompasses all activities related to the production and distribution of goods from manufacturers to consumers. It involves understanding market concepts and the different types of product demand. Key elements include customer value, opportunity costs, and the utility of products, which can be broken down into form, place, time, and possession. This framework is essential for businesses to effectively meet consumer needs and optimize their market strategies.

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Understanding Marketing: Concepts, Demand, and Customer Value Explained

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  1. 1. Marketing Concept• Concept and definition of market • Types of product demandWhat is marketing?• Marketing can be defined as all activities involved in the production and flow of produce from point of production to consumers. • customer value• opportunity costs• Utility- form, place, time and possession

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