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In the ______, the focus of marketing study is on the decision-making process involved in the performance of marketing function at the level of a firm.1. managerial approach2. commodity approach3. functional approach4. institutional approach

Answer» Correct Answer - Option 1 : managerial approach

The correct answer is Managerial Approach

1. Managerial Approach

  • The managerial approach thus entails the study of marketing at the micro-level- level of a business firm, of the managerial functions of analysis, planning, execution, coordination, and control in relation to the marketing functions of creating, stimulating, facilitating, and valuing transactions.

2. Commodity approach

  • The commodity approach involves the examination of the marketing system for each of a number of specific commodities. It takes as its focal points individual products. 

3. Functional approach

  • The functional approach is one of the methods used in the classification of activities that occur in the marketing processes by breaking down the processes into functions.

4. Institutional approach

  • The institutional approach to the study of marketing is a system whereby a detailed description and analysis are made for each segment of the marketing mechanism.


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