A Company Should First Identify Consumer Needs and Then Produce

question 30

Multiple Choice

A company should first identify consumer needs and then produce the goods and services that will satisfy them.Which of the following concepts advocates this?

• A) the total exchange concept
• B) the mission statement concept
• C) the marketing concept
• D) the sales concept

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Definitions:

Variance

A statistical measure of the dispersion of a set of data points in relation to their mean.

Mean

The arithmetic average of a set of numbers, calculated by adding all the numbers together and dividing by the count of numbers.

Variance

A measure of the dispersion or spread of a set of data points around their mean value.

Degrees of Freedom

The number of independent values or quantities that can vary in the calculation of a statistic, often necessary for assessing the significance of the statistic.