A business student is preparing for the Graduate Management Admission Test (GMAT)so he can get into a good graduate business school.He knows that any money he spends on a tutor will be worthwhile if he can improve his scores.He's heard that there is a great tutor in his local community but has no idea who she is.Marketing does not occur in this situation because
A)two or more parties have unsatisfied needs.
B)there is no desire on the part of either party to satisfy its needs.
C)neither of the involved parties has the ability to satisfy its needs.
D)there is no way for each party to communicate with one another.
E)there has been no assessment of consumer wants and needs.

Question

Quizplus · Accepted Answer

Four factors are required for marketing to occur: (1)two or more parties (individuals or organizations)with unsatisfied needs;(2)a desire and ability on their part to be satisfied;(3)a way for the parties to communicate;and (4)something to exchange.In this example,the student has been unable to communicate with the tutor he'd like to use.

A Business Student Is Preparing for the Graduate Management Admission