The Key Assumption Underlying the Marketing Concept Is That

question 49

Multiple Choice

The key assumption underlying the marketing concept is that

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

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Definitions:

Deficiency Judgment

A judgment against a debtor for the amount of a debt remaining unpaid after collateral has been repossessed and sold.

Floating Lien

A type of security interest or lien that attaches to assets that are subject to change in quantity and value.

Security Interest

A legal claim or right granted to a creditor or lender over the borrower's assets as a form of security for the repayment of a loan.

Collateral

Collateral is an asset or property that a borrower offers to a lender as security for a loan, which can be seized by the lender if the loan is not repaid according to the agreement.