Question

The marketing concept works for nonprofit organizations such as colleges and hospitals as well as for businesses whose goal is to make a profit. True or false?

Answer 1

True.

Step-by-step explanation:

The concept of marketing can be defined as a set of strategic tools used for the development of an organization through the variables product, price, place and promotion.

Therefore marketing is used by both for-profit and non-profit companies as its primary purpose is to help the organization develop and achieve positive results.

In non-profit companies, Social Marketing is practiced, an expanding concept in the world, whose objectives are to attract sufficient resources and convert them into products and services that can be distributed to the consumer public for the non-profit institution to be successful.