Principles of Marketing Marketing is the part of your business where money is made. In order to succeed in business, the following two principles of marketing should be kept in mind. First, customers are the mainstay of any business. Attracting customers to a business makes the difference between succeeding and failing. Therefore, the business needs to direct all activities towards satisfying the customers’ needs. If customers are satisfied, there is a chance that they will be retained for a long time and possibly permanently. Undoubtedly they are likely to talk to other potential customers. Another principle for a business is that profitable sales volume is more important than maximum sales volume. The profitable sales volume is the volume of sales that actually will earn a business the most profit. And the maximum sales volume simply refers to the biggest sum of retail sales. Since the aim of most businesses is to make as much profit as possible, businesses value profits more than the volume of sales. A large volume of sales may result in a low profit margin, therefore, it is important for marketers to focus on their profitable sales volume. Decide if each of the following statement is TRUE (T) or FALSE (F).

1. In order to succeed in business, three principles of marketing should be kept in mind.()

2. If customers are satisfied, they will be likely to encourage more people to buy the products or services.()

3. The profitable sales volume is the volume of sales that will bring a business profit.()

4. The maximum sales volume refers to the biggest sum of retail sales.()

5. Profitable sales volume is as important as the maximum sales volume.()