Question on: JAMB Commerce - 2012

The marketing concept is a business philosophy that focuses on satisfying customer needs and wants in order to achieve organizational goals. It emphasizes understanding the target market, developing products and services that meet their needs, and delivering them effectively. Consumerism is a social movement that seeks to protect and inform consumers by requiring such practices as product safety testing, truthful advertising, and informative packaging. Market segmentation involves dividing a broad consumer or business market into sub-groups of consumers (known as segments) based on shared characteristics. The selling concept is a business approach that prioritizes aggressive selling and promotional efforts to sell a product, with little regard for consumer wants or needs.