3.    Which of the following best explains what the marketing concept means:

a)    Firms should spend more money on marketing than they have in the past.
Nonsense.

b)    A firm's main emphasis should be on the efficient utilization of its resources.
This is true for any firm and has nothing to do with the marketing concept.

c)    All of a firm's activities and resources should be organized to satisfy the needs of its customers at a profit.
This is one of the definitions of the marketing concept.

d)    A company's chief executive should previously have been a marketing manager.
Maybe s/he should, maybe not. In any event, this does not guarantee the marketing concept will be applied.

e)    A firm should always attempt to give the customers what they need regardless of the cost involved.
Such a company will not stay in business for too long. Cost is always an important aspect of how a company manages its business, and marketing is no exception.

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