Companies that rely on the marketing concept and have implemented a market orientation strategy recognize that:
a. price is the most important variable for customers.
b. products should be targeted at everybody or the average customer.
c. customer wants can be satisfied by integrating activities of the firm.
d. good promotion and advertising strategies can save a bad product.
ANSWER: c
The marketing concept includes integrating all the organization's activities, including production, to satisfy customer wants.
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According to the just-in-time philosophy,
a. maintaining inventories wastes resources and frequently covers up poor work or other problems. b. push-through manufacturing flows are the most efficient. c. inventories of finished goods should always be available to meet customer demand. d. long production runs and large production lot sizes take advantage of economies of scale.
Vogel Company purchased $8,000 of equipment by making a $500 down payment and issuing a note for the remainder. As a result of this event, assets increased by $8,000.
Answer the following statement true (T) or false (F)
Which of the following forms of marketing involves talking with buyers before, during, and after the sale?
A. Personal selling B. Public relations C. Direct marketing D. Sales promotion E. Electronic marketing
A company is interested in monitoring the variability in the weight of the fertilizer bags it produces. An appropriate control chart would be:
A) an chart. B) a p-chart. C) a c-chart. D) an R-chart.