A Friend of Yours Comments,"I'm Starting My Own Business

question 62

Multiple Choice

A friend of yours comments,"I'm starting my own business.I have a perfect product that no one else can touch,but I have no use for marketing.That's just for the mega-corporations." Which of the following arguments would you not use in talking about marketing?

• A) Marketing helps new ventures organize,operate,and assess risk.
• B) Marketers help address unmet customer needs,regardless of the size of the firm.
• C) Marketing focuses on the product,but only as one element.Three other areas are promotion,price,and place.
• D) Marketers are skilled at communicating the value of the product to potential customers.
• E) Marketing isn't essential now,but it will be in a year or two when the product takes off.

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Definitions:

Recessions

Periods of economic decline marked by falling GDP and other economic indicators, often resulting in higher unemployment rates.

Office Machines

Equipment used in an office environment for administrative or clerical tasks, such as printers, copiers, and computers.

Depreciation

The reduction in the value of an asset over time, typically due to wear and tear, obsolescence, or market conditions.

Net Investment

The total spending on new capital minus depreciation on existing capital within a given period.