Question: Why does adoption of the marketing concept encourage a firm
Why does adoption of the marketing concept encourage a firm to operate more efficiently? Be specific about the impact of the marketing concept on the various departments of a firm.
Answer to relevant QuestionsDefine the marketing concept in your own words, and then explain why the notion of profit is usually included in this definition. If a producer creates a really revolutionary new product and consumers can learn about it and purchase it at a website, is any additional marketing effort really necessary? Explain your thinking. If a company sells its products only from a website, which is accessible over the Internet to customers from all over the world, does it still need to worry about having a specific target market? Explain your thinking. Distinguish between an attractive opportunity and a breakthrough opportunity. Give an example. In the short run, competition sometimes leads to inefficiency in the operation of our economic system. Many people argue for monopoly in order to eliminate this inefficiency. Discuss this solution.
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