Which of the Following Statements Best Describes the Modern View

question 367

Multiple Choice

Which of the following statements best describes the modern view of marketing?

• A) The job of marketing is to get rid of whatever the company is producing.
• B) Marketing should take over production, accounting, and financial services within a firm.
• C) Marketing is concerned with generating a single exchange between a firm and a customer.
• D) Marketing begins with anticipating potential customer needs.
• E) Production, not marketing, should determine what goods and services are to be developed.

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Definitions:

Delegation

The act of assigning responsibility or authority from one person or group to another.

Creditor Beneficiary

is a third party that benefits from a contract wherein the promisor agrees to pay the promisee's debt to the third party.

Incidental Beneficiary

An incidental beneficiary is a third party who may benefit from a contract between two other parties, even though the benefits were not directly intended for them.

Privity of Contract

The legal principle that a contract confers rights and imposes obligations only on the parties to the contract, barring any third party from enforcing or interfering with the agreement.