The Key Assumption Underlying the Marketing Concept Is That ________

question 122

Multiple Choice

The key assumption underlying the marketing concept is that ________.

• A) if manufacturers make a product, consumers will buy it
• B) a company must determine the needs and wants of specific target markets and satisfy consumers' needs better than the competition
• C) the primary focus of a business should be producing as much as it can, in the cheapest way possible
• D) consumers are most interested in obtaining generic products at low prices
• E) consumers are unlikely to buy a product unless they are aggressively persuaded to do so

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Definitions:

Job Order Cost System

An accounting system that accumulates costs by individual jobs when the products or services are distinguishable from each other.

Time Tickets

Documents or electronic records used to track the amount of time an employee spends on a specific job or project.

Job Cost Sheets

Documents that track the direct materials, direct labor, and manufacturing overhead for a specific job, used in job costing systems.

Direct Labor

Costs associated with the labor directly involved in the production of goods or services.