Which of the following is true of the marketing concept?
a. The primary contributor to a business' success is what it thinks it produces.
b. It prioritizes a firm's short-term sales goals over the long term goals.
c. A firm's thorough understanding of its customers and its competition is vital to its success.
d. It places the satisfaction of the customers' wants and needs over the organizational objectives.
Answer: c. A firm's thorough understanding of its customers and its competition is vital to its success.