The Marketing Concept Refers to

question 178

Multiple Choice

The marketing concept refers to

• A)the activity for creating,communicating,delivering,and exchanging offerings that benefit its customers,the organization,its stakeholders,and society at large.
• B)the belief that an organization should focus its efforts on (1)continuously collecting information about customers' needs, (2)sharing this information across departments,and (3)using it to create customer value.
• C)the view that organizations should satisfy the needs of consumers in a way that provides for society's well being.
• D)the process of identifying prospective buyers,understanding them intimately,and developing favorable long-term perceptions of the organization and its offerings so that buyers will choose them in the marketplace.
• E)the idea that an organization should (1)strive to satisfy the needs of consumers (2)while also trying to achieve the organization's goals.

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Definitions:

Milgram Experiment

A psychological experiment conducted by Stanley Milgram in the 1960s to study obedience to authority, where participants were instructed to administer electric shocks to another person.

Stanford University Prison Experiment

A psychological study conducted by Philip Zimbardo in 1971 at Stanford University, where students were assigned roles of prisoners and guards to explore the effects of perceived power.

Generalization

Drawing a conclusion about a certain characteristic of a population based on a sample from it.

Logical Support

The provision of reasons or evidence to justify a claim or argument.