The social and managerial process by which individuals and groups obtain what they need through creating and exchanging products and value with others is called:

Question

Quizplus · Accepted Answer

The definition perfectly fits the concept of marketing, which involves identifying customer needs and wants, and then creating and exchanging products and services to fulfill them. While sales and commerce play a role in the overall process, they are not as encompassing as marketing. Economics is the study of how goods and services are produced, distributed, and consumed.

The Social and Managerial Process by Which Individuals and Groups