Marketing is defined as a social and managerial process by which individuals and organizations obtain what they need and want through ________.
A) research and development
B) innovation and creativity
C) manufacturing efficiencies
D) value creation and exchange
E) sales and revenue creation

Question

Quizplus · Accepted Answer

Marketing is the process of creating value for customers and exchanging that value for their satisfaction. It involves identifying customer needs and wants, developing products and services that meet those needs and wants, and communicating the benefits of those products and services to the target audience. The ultimate goal of marketing is to create and maintain long-term customer relationships that result in repeat business and customer loyalty. While research and development, innovation and creativity, manufacturing efficiencies, and sales and revenue creation are important components of marketing, they are all ultimately geared towards creating value for customers and exchanging that value for customer satisfaction.

Marketing Is Defined as a Social and Managerial Process by Which