PRC-3 · Chapter 7 · Question 50 of 72
A modern smartphone manufacturer believes that before designing a new phone, it must conduct extensive research to discover exactly what features consumers desire, and then build the product to satisfy those desires. What business philosophy is this?
Test yourself: pick an answer
Reveal answer & explanation
Correct answer: C) The marketing concept
Explanation
The marketing concept is a philosophy stating that achieving organizational goals depends on first determining the needs and wants of target markets and then satisfying them.
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