Explain what management guru Peter Drucker meant when he said, "Marketing is the distinguishing, unique function of the business."
What will be an ideal response?
Answers will vary. Marketing is creating value for specific products or services; without marketing, one company's products would not be all that different from another company's products.
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Which is a characteristic of fads?
A. They can move through the entire cycle in weeks. B. They typically register a gradual and unpredictable spike in sales. C. They peak slowly but then register a rather abrupt decline. D. They stay in the maturity stage for decades.
Which of the following is a criticism of online panels?
a. They lead to biased and misleading results as members receive incentives to join the panel. b. They require the presence of a moderator to control the discussion. c. They lead to incorrect results as panel providers are not permitted to select panel members based on the current requirement. d. They involve very long discussion times as panel members discuss among themselves while offering suggestions.
A company had no office supplies available at the beginning of the year. During the year, the company purchased $330 worth of office supplies. On December 31, $105 worth of office supplies remained. How much should the company report as office supplies expense for the year?
A. $225. B. $105. C. $435. D. $330. E. $205.
All of the following are examples of economic espionage EXCEPT:
A. searching a competitor's trash. B. bribery. C. noncompete clause employment contract violations. D. wiretapping. E. trespassing.