To Implement the Marketing Concept, an Organization Must First Establish

question 100

True/False

To implement the marketing concept, an organization must first establish an information system to discover customers' real needs and then use the information to create products to satisfy those needs.

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Definitions:

Confidence Interval

A range of values, derived from sample statistics, that is likely to contain the value of an unknown population parameter with a certain level of confidence.

Population Parameter

A numerical characteristic or measure that describes an aspect of a population.

Sampling Error

The discrepancy between the statistical characteristics of a sample and those of the population from which the sample was drawn.

Sample Variance

A measure of dispersion that calculates how much the numbers in a sample differ from the mean of the sample.