Marketing Is Defined as a Social and Managerial Process by Which

question 76

Multiple Choice

Marketing is defined as a social and managerial process by which individuals and organizations obtain what they need and want through ________.

• A) research and development
• B) innovation and creativity
• C) manufacturing efficiencies
• D) value creation and exchange
• E) sales and revenue creation

---

Definitions:

Franchisor

A franchisor is a company that grants an individual or group the rights to run a business location using its brand, business model, and guidelines.

Franchisee

An individual or company that is granted the right by a franchisor to do business under a recognized brand name and operational system.

Logistics Management

The administration of the flow of goods between the point of origin and the point of consumption to meet customer or corporation requirements.

Flow

In psychology and user experience, a state where people are fully immersed and focused on what they are doing.