The idea that a business should strive to satisfy customers' needs and wants while generating a profit is called what?

Marketing Unit 1a 2021

Flashcard
•
Business
•
11th Grade
•
Hard
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8 questions
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1.
FLASHCARD QUESTION
Front
Back
Marketing Concept
2.
FLASHCARD QUESTION
Front
What is a patent?
Back
A document granting an inventor sole rights to an idea or item
3.
FLASHCARD QUESTION
Front
Supply is
Back
The amount of goods a producer is willing to make and/or sell
4.
FLASHCARD QUESTION
Front
Demand is
Back
Consumer willingness and ability to buy the product
5.
FLASHCARD QUESTION
Front
There are 5 functions of business, which one is responsible for buying the materials needed to manufacture the product?
Back
Production and Procurement
6.
FLASHCARD QUESTION
Front
Of the 5 functions of business, which one is responsible for the promotion of a product?
Back
Marketing
7.
FLASHCARD QUESTION
Front
Which of the 5 functions of business is responsible for scheduling employees and evaluating performance?
Back
Management
8.
FLASHCARD QUESTION
Front
The idea that a business should strive to satisfy customers' needs and wants while generating a profit is called what?
Back
Marketing concept
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