The Marketing Concept Involves

question 116

Multiple Choice

The marketing concept involves:

• A) focusing on customers' wants so that the organization can distinguish its product (or products)from the competitors' products
• B) satisfying management's needs and wants with the idea of maximizing profits in the short run
• C) selling as much product as possible under the assumption that people will buy more goods and services if aggressive selling techniques are used
• D) selling as much as possible under the assumption that consumers will buy more at lower prices
• E) focusing on production in order to increase product quality and lower prices

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Definitions:

Global Environment

The broader context, including economic, political, social, and environmental factors, that affects businesses and organizations worldwide.

Boeing

An American multinational corporation that designs, manufactures, and sells airplanes, rotorcraft, rockets, satellites, and telecommunications equipment worldwide.

Haier

A global Chinese consumer electronics and home appliances company known for its innovation and quality products.

Maturity Stage

The maturity stage is a phase in the product life cycle characterized by a slowdown in sales growth because the product has achieved acceptance by most potential buyers, leading to increased competition.