Club med inc. talks to its present and potential customers to assess their needs for its products. Then it develops products to satisfy those needs. The firm is thus applying the?

Answer :

Club med inc. talks to its present and potential customers to assess their needs for its products. Then it develops products to satisfy those needs. The firm is thus applying the Marketing concept.

What is Marketing concept?

The marketing notion refers to the process that a business uses to maximize profit by boosting sales, meeting consumer needs, and outperforming competitors. The goal is to establish a condition that is advantageous to both the customer and the business. The goal of the marketing concept is to better predict and fulfill customers' needs and wishes than the competition. The Adam Smith book Wealth of Nation served as the primary inspiration for the marketing ideas. It was not discovered till the 21st century.

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