Question

Match the types of marketing

efforts to their descriptions:

1. customer-oriented marketing
2. customer value marketing
3. innovative marketing
4. sense of mission marketing
5. societal marketing


Thinking about what's good for
society

Thinking about what customers
want and need

Thinking about the company's and
the product's mission

Thinking about product
improvements and incorporating new
ideas

Thinking about how to improve
value for customers

Answer 1

The matchings are customer-oriented marketing with customer desires, customer value marketing with improving customer value, innovative marketing with product innovation, sense of mission marketing with company mission, and societal marketing with societal welfare.

Step-by-step explanation:

The student's question involves matching marketing efforts to their descriptions. Here's the answer:

1. Customer-oriented marketing: Thinking about what customers want and need.
2. Customer value marketing: Thinking about how to improve value for customers.
3. Innovative marketing: Thinking about product improvements and incorporating new ideas.
4. Sense of mission marketing: Thinking about the company's and the product's mission.
5. Societal marketing: Thinking about what's good for society.

These types of marketing efforts illustrate the broad approach businesses can take to appeal to consumers and reflect concerns ranging from individual customer needs to broader societal impacts. This topic ties into the broader economic discussion of whether a market-oriented economy produces an optimal variety of products, considering both consumer desires and societal costs.