Any activity aimed at finding out the wants of consumers and supplying them at a profit is referred to as?
Answer Details
The activity aimed at finding out the wants of consumers and supplying them at a profit is referred to as "marketing". Marketing is a broad term that encompasses all the activities involved in identifying the needs and wants of customers, and then satisfying those needs through the creation, promotion, and distribution of products and services.
Marketing involves researching and analyzing customer preferences and behavior, developing products that meet those preferences, promoting those products to customers, and making the products available for purchase through appropriate channels. It is aimed at identifying and meeting the needs of customers in a way that is profitable for the company.
Promotion, segmentation, and penetration are all specific aspects of marketing. Promotion refers to the activities used to communicate with customers and persuade them to buy a product or service, while segmentation involves dividing the market into smaller groups with similar needs and characteristics. Penetration, on the other hand, refers to the strategy of gaining market share by selling more of an existing product to existing customers or by entering new markets with existing products.
Therefore, the correct answer is "marketing", which is the broad term used to describe the entire process of identifying and satisfying customer needs at a profit.