Marketing Refers to

question 36

Multiple Choice

Marketing refers to

• A) the production of products or services that will generate the highest return on investment.
• B) the strategies used in the advertising and promotion of products and services.
• C) the process of identifying target market segments for a product or service.
• D) the activity involved in actually getting a product or service to ultimate consumers and organizational buyers.
• E) the activity for creating, communicating, delivering, and exchanging offerings that benefit its customers, the organization, its stakeholders, and society at large.

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Definitions:

Production Function

An equation or graph that represents the maximum output that can be produced with a given set of inputs, showing the relationship between input and output levels in the production process.

Factors Of Production

The inputs used in the production of goods or services in the attempt to make an economic profit, including land, labor, capital, and entrepreneurship.

Input

Resources used in the production process, including labor, capital, materials, and energy.

Output

The final product or service produced from the input resources in a production process.