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

question 279

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) Both B and D are correct.

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Definitions:

Market Growth Potential

The capacity for expansion or increased sales within a market, considering current trends and consumer demand.

Product Substitutes

Alternative goods or services that consumers can choose as replacements for another item, usually because they fulfill similar needs or functions.

Buying Power

The capacity of individuals or groups to purchase goods and services, often influenced by income, credit, and economic conditions.

Market Segment

A group of consumers or organizations sharing one or more characteristics that cause them to have similar product and/or service needs.