Marketing: Review - Lesson 1.3

Which of these activities must a business accomplish in order to use the marketing concept successfully?

All of these choices are correct

A marketing mix is the blending of three marketing elements—product, distribution, and promotion.

False

Companies that follow the marketing concept cannot be concerned about the amount of profit they make.

False

Marketing has always been an important part of business.

False

Price is the actual cost that a business incurs to produce and market the product.

False

In the early 1900s the biggest challenges most businesses faced was getting the products from the places where they were produced to where customers purchased them.

True

The marketing concept works for nonprofit organizations such as colleges and hospitals as well as for businesses whose goal is to make a profit.

True

The most successful businesses consider customers' needs as they produce and market their products and services.

True

Businesses that do not use the marketing concept

are not concerned about understanding customer needs

As consumers increased their standard of living and had more money to spend, the demand for newer and better products..

increased