Which of the following is true regarding the marketing concept?
A)During tough economic times, the marketing concept focuses on the objective of achieving short-term profits instead of long-run success.
B)The marketing concept believes that consumers will resist purchasing nonessential goods and services.
C)The marketing concept emphasizes cutting costs and boosting revenues during tough economic times.
D)A firm's survival and growth are built into the marketing concept.

Question

Quizplus · Accepted Answer

The marketing concept prioritizes a firm's survival and growth by focusing on satisfying the needs and wants of customers. This includes building long-term relationships and creating value for customers, which ultimately leads to the company's success. The marketing concept does not prioritize short-term profits and may even invest in nonessential goods and services if it is in the best interest of long-term success. Additionally, the marketing concept may seek to cut costs and boost revenues, but only as part of a larger strategy for meeting customer needs and positioning the company for growth.

Which of the Following Is True Regarding the Marketing Concept