Marketing is about identifying customers needs and creating a product to satisfies those needs and wants.

False

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True

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Q. Write a word phrase or a term which can substitute each one of the following statements.
1. A place where buyers and sellers come together for buying and selling.
2. A commodity is anything that can be offered to market to satisfy a want or need.
3. When middlemen acts as a link between producer and seller, a chain formed is called
4. A combination of product, price, place and promotion in order to promote sales and satisfy needs of customers.
5. Business functions which directs flow of goods from producer to consumer.

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Q. Marketing concept concentrates on the need of the customers.

Who is the individual, that you call and who is willing and has the ability to purchase products and services produced by a business that satisfies his needs and wants?

Q. "Find wants and fill them" , " create products and sell them" are the important concepts of marketing management philosophy. Identify them.

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