Which of the following statements best explains the "marketing concept?"
a) A firm should always attempt to give customers what they need, regardless of the cost involved
b) A firm's main emphasis should be on the efficient utilization of its resources
c) A company's chief executive should have prior experience as a marketing manager
d) All of a firm's activities and resources should be focused on fulfilling the needs of its customers while making a profit
e) Firms today should spend more money on marketing than they have in the past
Answer: d) All of a firm's activities and resources should be focused on fulfilling the needs of its customers while making a profit
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Principles of Marketing
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