Accurate and timely information is the foundation of effective marketing, especially of the marketing concept. This statement is true.
The marketing concept means whenever a company plans and implements to maximize profit by boosting sales, meeting customers' needs, and surpassing competitors. The goal is to devise a situation that serves both parties; the customer and the company. To fully understand the marketing concept, we need to understand needs, wants, and demands.
The idea behind the marketing concept is to predict and satisfy the needs and wants of customers better than the competitors.
Learn more about the marketing concepts here:
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