Marketing Has Been Defined as a Function and Set of Processes

question 60

Multiple Choice

Marketing has been defined as a function and set of processes for creating, communicating, and delivering value to customers, and for managing customer relationships in ways that benefit the organization and its stakeholders. Marketing managers must have information in order to determine values desired by customers and how to build customer relationships. This explanation shows:

• A) why marketing research is a part of marketing; that is, marketing research provides information to allow marketing managers to understand values desired by customers
• B) why marketing is a part of marketing research; that is, marketing processes are used to generate marketing research information that is needed to determine customers' desired values
• C) why the uses of marketing research do not include creating, communicating, and delivering value, but include identifying opportunities and problems
• D) why marketing and marketing research are not interrelated

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Definitions:

Cube Root

The number that produces a given number when cubed, essentially the cube root of a number is a value that, when multiplied by itself three times, gives the original number.

Pendulum Period

The time it takes for a pendulum to complete one full swing back and forth, depending on its length and the acceleration due to gravity.

Complete Cycle

A full sequence of events or stages that returns to the starting point.

Radical Equation

An equation in which the variable is contained inside a radical symbol or has a rational exponent.