Final answer:
A business with the marketing concept focuses on customer satisfaction, integrating the marketing manager in top management, and collaborating across departments. The correct answer to the student's question, "Which of the following is NOT a characteristic of a business that has adopted the marketing concept?" is: b. the cost of marketing is higher than in other businesses.
Step-by-step explanation:
When a business adopts the marketing concept, it focuses on understanding and meeting the needs of its customers. This approach typically involves several key characteristics:
The marketing manager is an integral part of the top management team, ensuring marketing strategies align with business goals.
Marketing personnel collaboratively work with other departments within the company to ensure a unified approach.
The success of the business is largely measured by customer satisfaction.
Conversely, one myth about businesses that use the marketing concept is that their marketing costs are higher than in other businesses. In reality, efficient and effective marketing can reduce overall costs by more accurately targeting customer needs and building customer loyalty, leading to repeat business.