Benefits And Detriments Of Marketing

Question 1

Transaction marketing

Answer 1

Focuses on profit maximising by recruiting more and more customers to purchase the firms product

Question 2

Consumer sovereignty theory

Answer 2

Posits that society benefits when consumers vote with their pocket books. To do so, consumers have to be informed about the products quality and price. Consumer behaviour is based on the assumption that consumers shop around and buy the highest quality product at the lowest price.