A Friend of Yours Comments, "I'm Starting My Own Business

question 36

Multiple Choice

A friend of yours comments, "I'm starting my own business. I have a perfect product that no one else can touch, but I have no use for marketing. That's just for the mega-corporations." Which of the following arguments would you NOT use in talking about marketing?

• A) Marketing helps new ventures organize, operate, and assess risk.
• B) Marketers help address unmet customer needs, regardless of the size of the firm.
• C) Marketing focuses on the product, but only as one element. Three other areas are Promotion, Price, and Place.
• D) Marketers are skilled at communicating the value of the product to potential customers.
• E) Marketing isn't essential now, but it will be in a year or two when the product takes off.

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Definitions:

Frank Sulloway

A psychologist known for his work on birth order and its effect on personality and behavior.

Firstborns

Individuals who are the oldest children in their families, often considered to have unique psychological traits and developmental experiences.

Open To Experience

A personality trait characterized by a willingness to try new activities, indulge in imaginative and intellectual pursuits, and embrace novel ideas.

Longitudinal Personality Development Studies

Research studies that follow the same individuals over a period of time to observe changes in their personality.