Briefly compare the production concept with the marketing concept
What will be an ideal response?
The production concept assumes that consumers gravitate to widely available products that are affordably priced. The realization that consumers may want something more beyond just basic products led to the marketing concept, a philosophy centered on organizations providing their customers with what they need.
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List and briefly describe the information required to assess the strengths and weaknesses of a competitor
What will be an ideal response?
Competition is useful for teams when:
a. The competition is about money rather than social rewards. b. The competition is with teams from other organizations. c. The competition is within the team rather than with other teams. d. The competition is focused on the main goals of the team.
Which of the following analytics is a measure of actual revenue relative to the objectives of the organization?
A. sales analysis B. revenue analysis C. profit analysis D. gross margin E. profit margin
Under the doctrine of respondeat superior, a principal may be liable for any harm that his or her agent causes to a third party
Indicate whether the statement is true or false