The essence of adopting marketing concept by a firm is the recognition that goods and services have no values unless they are
Answer Details
The essence of adopting the marketing concept by a firm is the recognition that goods and services have no value unless they are desirable to customers. In other words, the marketing concept involves focusing on the needs and wants of customers, and creating products or services that satisfy those needs and wants. By doing so, a firm can build long-term relationships with its customers, increase customer satisfaction, and ultimately, drive profits. This approach is in contrast to a company-oriented or profit-oriented approach, where the focus is solely on the company's goals and profits, rather than on the needs and wants of customers.