Question

The model of the modern complex marketing system outlines that _______ participate(s) and facilitate(s) a firm’s marketing function.
1. similar institutions
2. two institutions
3. many institutions
4. a single institution

Answer 1

Correct Answer - Option 3 : many institutions

The correct answer is Many institutions

• Today, marketing is a complex activity.
• The single most reason that can be attributed to this complexity is rapid advancements in science and technology.
• In order to generate and maintain demand, companies employ novel and sophisticated communication techniques to reach the target customers.
• The Internet medium has created digital relationships between customers and sellers.  
• The model of the modern complex marketing system outlines that many institutions participate and facilitate a firm’s marketing function.
• For example, institutions such as advertising agencies, marketing research firms, retailing channels, banking and insurance companies, transport organizations, and other innumerable service providers all play vital roles in the marketing efforts of a firm.
• In fact, today’s marketing manager has to coordinate several jobs before putting his company’s products in the target marketplace.