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

  1. Understanding the marketplace, and customer needs and wants
  2. Engaging customers, building profitable relationships and creating customer delight
  3. Capturing value from customers to create profits and customer equity
  4. Designing a customer-driven marketing strategy
  5. Constructing an integrated marketing program that delivers superior value

Answer A. Understanding the marketplace, and customer needs and wants

Explanation: 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.

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