According to relationship marketing, the lifetime value of a customer should exceed the investment made by the firm to attract and keep the customer.

Not-for-profit organizations are generally less concerned with the bottom line than for-profit organizations.

Production orientation is a business philosophy that stresses on the importance of quantity of products rather than the quality of products.

The marketing concept focuses on the objective of achieving short-term profits instead of long-run success during tough economic times.

The emergence of the marketing concept can be linked to the shift from a seller’s market to a buyer’s market.

The financial bottom line refers to the limitations laid on the budgets of a firm.

A theater group promoting a performance to raise funds in the fight against cancer is an example of both cause marketing and event marketing.

Good relationships with customers can equip a firm with vital strategic weapons.

Marketing of a product begins after it hits the shelf.

Within a business environment, the marketing function is responsible for the creation of time, place, and ownership utility, whereas the production function creates form utility.