According to the Marketing Concept, an Organization Should Try to

question 143

Multiple Choice

According to the marketing concept, an organization should try to

• A) consider short-run objectives and cash flow needs before developing new products.
• B) define its business as "making a product."
• C) provide products that satisfy customers' needs and allow the organization to achieve its goals.
• D) put most of its emphasis on marketing activities and be less concerned with finance, accounting, and personnel.
• E) view selling activities as the major means of increasing profits.

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Definitions:

Stock-Out

A situation where inventory is exhausted and unavailable for sale or use, often leading to lost sales or production delays.

Collection Period

The average number of days it takes a company to collect payments owed by its customers for sales made on credit.

Credit Sales

Transactions where goods or services are provided to a customer with the agreement that payment will be made at a future date.

Non-Growth Firm

A business that does not expect to increase its revenue or expand its market share significantly over time.