Which of the Following Was a Major Contributing Factor in the Conception

question 103

Multiple Choice

Which of the following was a major contributing factor in the conception of the marketing concept?

• A) The Great Depression during the 1930s that made consumers reluctant to spend
• B) Unavailability of the overwhelming number of choices of products sold by marketers
• C) Marketers' attempt to provide goods and services that met customer needs
• D) Long-term customer relationships that gained momentum post World War II

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Definitions:

Economies Of Scale

Cost advantages that a business obtains due to expansion, seen in the form of reduced costs per unit as output increases.

Profit-Maximizing

The method or approach of adapting manufacturing and selling activities to secure the maximum potential profit.

Competitively Organized Industry

An industry characterized by many firms competing against each other in a market to sell their products.

Network Effects

The phenomenon where a product or service becomes more valuable as more people use it.