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  2. A market is a place where parties can gather to facilitate the exchange of goods and services. The parties involved are usually buyers and sellers. The market may be physical, like a retail outlet, where people meet face-to-face, or virtual, like an online market, where there is no physical presence or contact between buyers and sellers.
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    What is a marketing concept?The marketing concept is customer-oriented. It puts customers in the middle of the marketing process, finding out customers’ needs and wants, then satisfying those needs better than the competitors. In this approach, the marketer says that the customer is always right and his needs and wants should come first.
    What is a market in economics?A market is any place where two or more parties can meet to engage in an economic transaction—even those that don't involve legal tender. A market transaction may include goods, services, information, currency, or any combination that passes from one party to another. In short, markets are arenas in which buyers and sellers can gather and interact.
    How do you develop a marketing concept?The first step in the Marketing Concept is to understand what customers need and want. This can be done through market research. Marketing managers must then create a unique value proposition that meets these needs and wants better than the competition. 2. Integrated Marketing
    What is a societal marketing concept?The Societal Concept The societal marketing concept is a more recent marketing approach that considers the well-being of society as a whole. This concept is based on the belief that businesses should focus on creating products and services that meet customers’ needs while also considering the negative impact their business might have on society.
     
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