The Concept Holds That Achieving Organizational Goals Depends on Knowing

question 78

Multiple Choice

The concept holds that achieving organizational goals depends on knowing the needs and wants of target markets and delivering the desired satisfactions better than competitors do.

• A) production
• B) societal marketing
• C) marketing
• D) product
• E) selling

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Definitions:

Time Value

The time value of money concept suggests that money available now is more valuable than the same amount in the future due to its potential earning capacity.

Cash Sales

Transactions where goods or services are paid for with cash or its equivalent at the time of sale, without delay.

Credit Sales

Sales made by a business where the payment is received after the service or product has been delivered.

Commercial Paper

Unsecured, short-term promissory notes of large firms, usually issued in denominations of $100,000 or more and having an interest rate of somewhat below the prime rate.