The Aim of Marketing Is to

question 155

Multiple Choice

The aim of marketing is to

• A) help create a pure subsistence economy.
• B) eliminate the need for exchanges.
• C) persuade customers to buy the firm's product.
• D) identify customers' needs and meet those needs so well that the product almost "sells itself."
• E) facilitate a single transaction.

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Definitions:

Journal Entry

A record in accounting that documents a business transaction, including the accounts and amounts affected.

Prepaid Insurance

The cost of insurance premiums that have been paid in advance for future coverage, recorded as an asset on the balance sheet.

Accounts Receivable

Receivables from customers for goods or services that have been used or delivered, but remain unpaid.

Insurance Expense

The cost incurred by a business or individual for purchasing insurance coverage, recognized as an expense in financial statements.