Question

Question 6 1 pts A business student is preparing for the Graduate Management Admission Test (GMAT) so he can get into a good graduate business school. He knows that any money he spends on a tutor will be worthwhile if he can improve his scores. He's heard that there is a great tutor in his local community but has no idea who she is. Marketing does not occur in this situation because two or more parties have unsatisfied needs. there is no desire on the part of either party to satisfy its needs. neither of the involved parties have the ability to satisfy its needs there is no way for the parties to communicate with one another. there has been no assessment of consumer wants and needs

Answer 1

Marketing is about satisfying customer needs and wants, create value, affects various stakeholders, entails an exchange and can be performed by both individuals and organizations. The four factors required for marketing are: 1. Two or more parties with unsatisfied needs. 2. A desire and ability on their part to be satisfied. 3. A way for the parties to communicate. 4. Something to exchange. As per the situation given in the question, the business student knew for his score to be improved he requires a tutor. He heard that a great tutor is available in his local community but unaware about her identity to communicate her. He can communicate her through various channel as she belongs to the local community for his tuitions. Therefore, the correct answer is there is no way for the parties to communicate with one another