Jolene's Firm Believes That Consumers Will Not Buy Enough of Its

question 107

Multiple Choice

Jolene's firm believes that consumers will not buy enough of its products unless the firm undertakes a large-scale selling and promotion effort. Jolene's firm is practicing the ________.

• A)production concept
• B)marketing concept
• C)selling concept
• D)relationship concept
• E)social advertising campaign

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Definitions:

Offeror

The party in a contractual agreement who proposes the terms of an offer to another party (the offeree).

Consideration

Consideration refers to something of value promised to another party in exchange for something else, forming a legal reason for parties to enter into a contract.

Common Law

A body of unwritten laws based on legal precedents established by the courts, distinct from statutory law.

Article 2

Often refers to a specific section within a constitution or a part of a legal code dealing with a particular area, such as commercial transactions in the U.S. Uniform Commercial Code.