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Under the marketing concept, when is the product created?
AAfter market research identifies customer needs and wants
BBefore any research, by the production department alone
CAfter the advertising campaign has already been launched
DBefore the target market for the firm has been selected
Answer & Solution
Correct answer: A. After market research identifies customer needs and wants
1. The marketing concept starts by identifying the needs and wants of buyers.
2. Only after research has identified those needs is the product created.
3. Products are not built first by production and then handed to marketing to sell.
4. Advertising comes later still, so a launch cannot precede the creation of the product.
_Source: OpenStax Introduction to Business (CC BY 4.0), Ch 11 "Creating Products and Pricing Strategies to Meet Customers' Needs", section 11.1 The Marketing Concept_
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