Marketing Concept Refers to

question 155

Multiple Choice

Marketing concept refers to

• A)the activity for creating, communicating, delivering and exchanging offerings that benefit the organization, its shareholders, and customers.
• B)the belief that an organization should focus its efforts on (1) continuously collecting information about customers' needs, (2) sharing this information across departments, and (3) using it to create customer value.
• C)the orientation of creating, communicating, delivering a product or service to a specific segment of the market, and providing the greatest customer value at the highest possible price.
• D)directing a firm's activities towards advertising, promotion, and sales in order to reach the greatest number of potential customers.
• E)the idea that an organization should strive to satisfy the needs of consumers, while also trying to achieve the organization's goals.

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Definitions:

Price

A measure of the monetary value assigned to a product or service, indicating what must be given up to obtain it.

Market Demand Curve

A graphical representation showing the relationship between the price of a good and the total quantity demanded by all consumers in the market.

Prices

The amount of money required to purchase goods or services.

Buyers

People or organizations that acquire goods or services.