Question

According to the American Management Association, what is the primary outcome of the process of planning and executing conception, pricing, promotion and distribution?

Options

• Reduce operational costs to minimum levels

• Maximize production capacity of the organization

• Creating exchanges that satisfy individual and organisational goals

• Eliminate all competition in the market

Answer 1

The American Management Association defines marketing as the process of planning and executing conception, pricing, promotion and distribution of ideas, goods and services with the primary aim of creating exchanges that satisfy both individual customer goals and organisational objectives. This definition emphasizes mutual satisfaction as the ultimate outcome.