SECTION A - MULTIPLE CHOICE QUESTIONS - ANSWER ALL QUESTIONS Question: Which of the following is NOT a basic core concept of marketing?

Question

BlackTom AI · Accepted Answer

In marketing, several foundational ideas are routinely taught as core concepts. 
Option a: 'needs, wants and demands' are fundamental to understanding why markets exist and how firms tailor offerings to address human desires and requirements. This is clearly a core concept. 
Option b: 'revenue streams' refers to how a business earns money, which is more of a business model or financial concept than a basic marketing core concept. While important for business success, it is not typically listed among the basic marketing core ideas like needs, wants, and market offerings. This makes it the correct choice for NOT being a core marketing concept. 
Option c: 'market offerings' (the products or services a company provides to satisfy needs and wants) are central to marketing theory, describing what is being proposed to customers. This is a core concept. 
Option d: 'value, satisfaction and quality' capture the outcomes customers experience from offerings and are central to evaluating and delivering marketing success; these are definitely core ideas. 
Option e: 'None of the above' would assert that all listed items are core concepts, which contradicts the identification of option b as not being a core concept. Therefore, this statement is not correct given the other assessments. 
Overall, the option that is NOT a basic core concept of marketing is b. revenue streams, because it is more about financial structure than the fundamental marketing elements of needs, offerings, and value delivery.

SECTION A - MULTIPLE CHOICE QUESTIONS - ANSWER ALL QUESTIONS Question: Which of the following is NOT a basic core concept of marketing?

View Explanation

Log in for full answers

Similar Questions

According to the lecture on the definitions of marketing, the focus of marketing shifted from ‘one-way delivery of products’ to ‘two-way interaction among the market players.’

Which of the following marketing management concepts is most likely to lead to marketing myopia?

In the context of ‘Creating and capturing customer value’,according to Armstrong et al. (2015) a customer-driven strategy is closely linked to the selling concept.