Which practice involves determining and fulfilling the needs and wants of customers?

Marketing is the practice that focuses on determining and fulfilling the needs and wants of customers. It encompasses a range of activities aimed at understanding the target audience, identifying their preferences, and creating strategies to engage them effectively. This involves conducting market research to gather insights about customer behavior, preferences, and trends.

Through marketing, businesses can develop campaigns that communicate the value of their products or services and build lasting relationships with customers. It’s about not just selling a product but also understanding what customers truly desire and how to meet those needs in a meaningful way.

In contrast, sales primarily focus on the transactions and the act of selling products to customers. Product development is concerned with designing and creating products based on market demands, while customer service addresses the post-purchase experience and support for existing customers. Although all these functions interact with customer needs, marketing is specifically aimed at identifying and influencing what those needs and wants are.