The Marketing Concept Involves

question 66

Multiple Choice

The marketing concept involves:

• A) focusing on customers' wants and needs so that the organization can distinguish its product (or products)from competitors' products
• B) satisfying management's needs and wants with the idea of maximizing profits in the short run
• C) selling as much product as possible under the assumption people will buy more goods and services if aggressive selling techniques are used
• D) selling as much as possible under the assumption consumers will buy more at lower prices
• E) focusing on production in order to increase product quality and lower prices

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Definitions:

Organization Expense

Organization expense refers to the costs associated with forming a business entity, such as legal fees, filing fees, and costs of issuing stock.

Paid in Capital in Excess

Financial capital received from investors above the par value of the shares issued, also known as additional paid-in capital.

Common Stock

Equity ownership in a corporation, giving holders voting rights and a share in the company’s profits through dividends.

Par Value

The face value of a bond or stock as stated by the issuing company, which does not necessarily match its market value.