The Three Basic Ideas in the "Marketing Concept" Are

question 86

Multiple Choice

The three basic ideas in the "marketing concept" are:

• A) customer satisfaction, resource efficiency, sales maximization.
• B) customer satisfaction, total company effort, sales growth.
• C) resource efficiency, sales growth, profit maximization.
• D) customer satisfaction, marketing manager as chief executive, profit.
• E) customer satisfaction, total company effort, profit.

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Definitions:

All-You-Can-Afford

A pricing strategy that bases the price on the customer's ability to pay, rather than fixed pricing.

Promotion-to-Sales Ratio

A metric that compares the cost of marketing and promotion activities to the revenue generated from sales.

Break-Even Points

The point at which total costs and total revenues are equal, meaning the business is neither making a profit nor a loss.

Return on Investments

A measure used to evaluate the efficiency or profitability of an investment, calculated by dividing the benefit (return) of an investment by the cost of the investment.