Which of the following is the best definition for marketing?
A) Marketing is an organizational function and a set of business activities designed to make profits.
B) Marketing is an organizational function and a set of processes for creating, communicating, and delivering value to customers and for managing customer relationships in ways that benefit the organization and its stakeholders.
C) Marketing is a business function and a process for determining the value customers desire in order to gain profit for business organizations and to seek societal benefits through nonprofit marketing.
D) Marketing is finding a hole and filling it while earning profitable dollars.
E) Marketing is the result of the equilibrium of supply, demand, marginal cost, and marginal revenue.
B
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Monitoring skills refer to a manager's expertise in budgeting time, people, and money
Indicate whether the statement is true or false
A company had beginning inventory of 10 units at a cost of $20 each on March 1. On March 2, it purchased 10 units at $22 each. On March 6 it purchased 6 units at $25 each. On March 8, it sold 22 units for $54 each. Using the perpetual FIFO inventory method, what was the cost of the 22 units sold?
A. $470 B. $450 C. $520 D. $570 E. $490
A major cause of ________ is the difference between what a firm promises about a service and what it actually delivers.
A. Poorly perceived service B. Customer empowerment C. Service autonomy D. Service downsizing E. Originator ambiguity
From a population of size 400, a random sample of 40 items is selected. The median of the sample
a. must be 200, since 400 divided by 2 is 200. b. must be 10, since 400 divided by 40 is 10. c. must be equal to the median of population, if the sample is truly random. d. none of these alternatives is correct.