The Total System View of the Marketing Concept Builds on the Idea

question 131

Multiple Choice

The total system view of the marketing concept builds on the idea that

• A)sales should be the firm's high-level objective.
• B)a company should not have specialized departments.
• C)each department in an organization should do what it does best.
• D)all departments-not just marketing-should be guided by customer needs.
• E)None of these answers is correct.

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Definitions:

Time-Value

The concept that money available at the present time is worth more than the same amount in the future due to its potential earning capacity.

Money

Any item that is generally acceptable to sellers in exchange for goods and services.

Present Value

A calculation of today's value of money to be received in the future or ongoing cash flows, based on a given rate of return.