Practice Quiz

CLEP Marketing

Category - Strategy

Start a Study Session Sign up for Question of the Day
Which of the following statements best reflects the function of the marketing process in a multinational firm?
  1. To entrench the firm’s values and mission statements among employees and partners
  2. To promote products in emerging and lagging markets
  3. To create value for chosen customers over time
  4. To promote product planning and management across the firm
  5. To hasten product development and testing
Explanation
Answer: C - The function of the marketing process in a multinational firm is to create value for chosen customers over time. A firm creates and captures this value by discovering and meeting the needs of the customers. Although the marketing process is popularly thought to be about the promotion of products, it is designed to create value for customers, a portion of which is recovered through pricing.
Was this helpful? Upvote!
Login to contribute your own answer or details
Start a Study Session Sign up for Question of the Day

Top questions

Related questions

Most popular on PracticeQuiz