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Examveda

Which of the following statements is correct?

A. Marketing is the term used to refer only to the sales function within a firm.

B. Marketing managers don't usually get involved in production or distribution decisions.

C. Marketing is an activity that considers only the needs of the organization; not the needs of society as a whole.

D. Marketing is the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large.

Answer: Option D

Solution(By Examveda Team)

Marketing is the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large. (Approved October 2007) American Marketing Association Board of Directors. Accessed 2012. Again, in common with Kotler and Armstrong above, the AMA focuses its definition on value creation and delivery, and the longer-term retained customer.

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Related Questions on Marketing

The four unique elements to services include:

A. Independence, intangibility, inventory, and inception

B. Independence, increase, inventory, and intangibility

C. Intangibility, inconsistency, inseparability, and inventory

D. Intangibility, independence, inseparability, and inventory