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Eduncle posted an MCQ
October 17, 2019 • 22:56 pm 0 points
  • UGC NET
  • Management

The following statements relate to marketing :

The following statements relate to marketing : Statement I : "For any business enterprise there are two and only two basic functions : marketing and innovation. These two produce results; all the rest are costs." Statement II : "The product concept of marketing holds that business can be managed by maximisation of production and the resultant lower unit cost and low price." Which of the following options is correct ?

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    Eduncle Best Answer

    Peter Drucker's aphorism that "the purpose of a business is to create and keep a customer." More fully, Drucker said, "Because the purpose of business is to create a customer, the business enterprise has two - and only two - basic functions: marketing and innovation. Marketing and innovation produce results; all the rest are costs. Marketing is the distinguishing, unique function of the business."
    "product concept" is based upon the idea that customers prefer products that have the most quality, performance, and features, some customers prefer a product that is simpler and easier to use.

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