Which of the Following Is the Best Definition for Marketing

question 16

Multiple Choice

Which of the following is the best definition for marketing?

• A)Marketing is an organizational function and a set of business activities designed to make profits.
• B)Marketing is an organizational function and a 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.
• C)Marketing is a business function and a process for determining the value customers desire in order to gain profit for business organizations and to seek societal benefits through nonprofit marketing.
• D)Marketing is finding a hole and filling it while earning profitable dollars.
• E)Marketing is the result of the equilibrium of supply, demand, marginal cost, and marginal revenue.

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Definitions:

Salaried Manager

An individual in a managerial position who receives a predetermined, regular payment, typically on a monthly or bi-weekly basis, regardless of hours worked.

Profits

The financial return that exceeds the input costs associated with generating revenue, a fundamental measure of the success and viability of a business venture.

Franchise Fee

An upfront payment made by a franchisee to a franchisor for the rights to use the franchisor's brand and business model.

Shirking

The act of avoiding work or responsibilities, often covertly, within an employment context.