The _______ Is a Management Philosophy That Guides the Overall

question 137

Multiple Choice

The _______ is a management philosophy that guides the overall activities of the organization. It evolved over time from a ___________ in the latter half of the 19th century to a ________________ in the first half of the 20th century that emphasized advertising, personal selling, and distribution.

• A) market orientation; production orientation; sales orientation
• B) marketing concept; sales orientation; market orientation
• C) market orientation; production orientation; marketing concept
• D) marketing concept; production orientation; market orientation
• E) marketing concept; production orientation; sales orientation

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Definitions:

Sale On Account

A transaction where goods are sold and payment is to be made at a later date.

Equity

The value of an owner's interest in a company, calculated as the difference between the company's assets and liabilities.

Assets

Economic resources owned or controlled by a business or individual that are expected to bring future benefits.

Liabilities

Financial obligations or debts a company owes to others that must be paid in the future.