Question

According to the five-step model of the marketing process, the first step in marketing is ______.

• A. Understanding the marketplace, and customer needs and wants
• B. Engaging customers, building profitable relationships and creating customer delight
• C. Capturing value from customers to create profits and customer equity
• D. Designing a customer-driven marketing strategy
• E. Constructing an integrated marketing program that delivers superior value

Answer 1

The correct option is A

Understanding the marketplace, and customer needs and wants

It is crucial to comprehend a consumer’s needs, wants, and desires to construct a need fulfilling market, or want satisfying market contributions and building valuable consumer relationships. This increments long-term client equity for the business.