Outcome1 0 If you need more report of HND, please come to Wonder(App.) to find me. 1 Identify three key characteristics of the marketing concept. The first is to fully understand customer's needs and market, and formulate customer-oriented marketing strategy. Firstly, companies should investigate customers and markets, and then process market and customer information. These will determine the customers they want to serve, which means the target market and how they can better serve, which means their value orientation. When a company decides who they serve, it will find the target market by segmenting the market and targeting the level, time and nature of customer demand. Then they differentiated and found their place in the market. The second is to establish a complete market plan to provide customers with better value. We should pay attention to the following four aspects about how to provide better value for customers. First, the company designs products and services, such as product diversity, quality, brand name, packaging, etc., to bring strong brands to customers. In terms of price, companies need to create real value. In terms of promotion, the company can carry out advertising, personnel sales, price promotion and so on. There are many distribution channels and supply chains in the local area. The third is to establish profitable relationships with customers and maintain customer satisfaction. The toy company should establish a good and solid relationship with the selected customers in order to achieve continuous benefits. In managing partnerships, companies should also build strong relationships with their partners. 2 Explain and give examples of key factors influencing the micro and macro en...
