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in Business Studies by (63.2k points)

Vindhya Ayurved Ltd., a new and leading manufacturer of herbal and ayurvedic medicines and grocery products has captured a large share of the market in a short span of time. The Research and Development (R & D) department of the company spends considerable time and effort in developing eco-friendly, chemical-free and healthy alternatives for a variety of products of daily use, from toothpaste to biscuits, instant noodles to soaps, shampoos and detergents etc. Their business orientation differs from competitors who are shortsighted and want to maximize profit by maximizing sales. Instead Vindhya Ayurved considers maximization of profit by understanding needs and wants of customers in the target market and development of products or services for satisfying such needs and wants.
(i) Identify and explain the marketing management philosophy adopted by Vindhya Ayurved Ltd.
(ii) State any two values that are being promoted by the company.

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(i) Marketing philosophy:
Marketing philosophy implies that focus on satisfaction of customer’s needs is the key to the success of any organisation in the market. It assumes that in the long run an organisation can achieve its objective of maximisation of profit by identifying the needs of its present and prospective buyers and satisfying them in an effective way.
(ii) Values that are being promoted by the company are:
(a) Fulfilling social responsibility/ Concern for the society
(b) Concern for health
(c) Sensitivity towards the environment.

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