Which of the Following Is True of the Marketing Concept

question 21

Multiple Choice

Which of the following is true of the marketing concept?

• A) The survival of any business depends solely on making a profit.
• B) Special consideration must be given to the needs, desires, and wishes of present and prospective customers.
• C) Being consumer oriented often involves coercing consumers to buy a product, irrespective of its quality.
• D) Use of the systems approach is not a part of the marketing concept.

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Definitions:

Balanced Scorecard Approach

A strategy performance management tool that views an organization from four perspectives: financial, customer, process, and learning and growth.

Financial Measures

Quantitative metrics used to gauge a company's performance, financial health, and results over a specific period.

Income Statements

Financial statements that summarize a company's revenue, expenses, and profits over a specific period of time.

Standard Cost

A predetermined cost of manufacturing, delivering, or producing goods or services under normal conditions.