The key assumption underlying the marketing concept is that, to be successful, a company must determine the needs and wants of specific target markets and deliver goods or services better than the competition.

Question

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The marketing concept is all about customer satisfaction and meeting their needs and wants. It involves targeting specific markets and delivering superior value to customers compared to competitors. Therefore, the key assumption of the marketing concept is that a company must determine the needs and wants of specific target markets and deliver goods or services better than competition to be successful.

The Key Assumption Underlying the Marketing Concept Is That, to Be