The three basic ideas in the marketing concept are: 1) customer satisfaction; 2) confining marketing activities to marketing professionals; and 3) having profit as an objective.
Answer the following statement true (T) or false (F)
False
Three basic ideas are included in the definition of the marketing concept: (1) customer satisfaction, (2) a total company effort, and (3) profit and not just sales-as an objective.
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Mindy's, a fashion brand, has a significant cost benefit that facilitates success in international markets in which price plays an important role in consumer decision making. Which of the following is most likely a reason for Mindy's success in international markets?
A. Human resources B. Adaptability C. Financial resources D. A global culture E. Globally sustainable competitive advantage
Which of the following would be the best example of an input measure?
A. Gross margin B. Sales revenue C. Net profits D. Return on assets E. Inventory
______ can be defined as the probability that a component, product, or system can perform its intended function over a period of time under a given set of normal operating conditions of use.
A. Reliability B. Maintainability C. Availability D. Redundancy
What is the proper adjusting entry at December 31, the end of the accounting period, if the balance in the prepaid insurance account is $7,750 before adjustment, and the unexpired amount per analysis of policies is $3,250?
A. Debit Insurance Expense, $7,750; credit Prepaid Insurance, $7,750. B. Debit Cash, $7,750; Credit Prepaid Insurance, $7,750. C. Debit Insurance Expense, $4,500; credit Prepaid Insurance, $4,500. D. Debit Insurance Expense, $3,250; credit Prepaid Insurance, $3,250. E. Debit Prepaid Insurance, $4,500; credit Insurance Expense, $4,500.