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:

Deontological Approach

A theory in ethics that determines morality based on adherence to rules or duties, rather than the outcomes of actions.

Ethical Fundamentalism

The belief in absolute moral rules that apply universally, guiding actions and decision-making.

Utilitarianism

A philosophical theory that suggests the best action is the one that maximizes utility, usually defined as that which produces the greatest well-being of the greatest number of people.

Ethical Relativism

The philosophical view that moral standards, values, and judgments are not universal but are culturally and individually determined.