Marketing Managers Can Satisfy Customers More Efficiently in the Present

question 61

Multiple Choice

Marketing managers can satisfy customers more efficiently in the present than anticipate changes in customer needs in the future. Which of the following best explains this statement?

• A) Organizations need more planning to devise better sales strategies.
• B) Marketing strategies should focus on production orientation.
• C) Managers need to first identify customer needs and then work backwards to devise products and services to satisfy these needs.
• D) Organizations need new customers; hence the need to manipulate customers to do what suits the interests of the firm.

Recognize different types of interview questions and how to respond effectively.

Appreciate the avoidance of including unnecessary personal data in professional documentation.

Understand the concept of moral hazard and its implications in various business contexts, including lending and insurance.

Identify the principal-agent problem in corporations and its consequences on company operations and objectives.

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Definitions:

Traced Costs

Direct costs, such as materials and labor, that can be directly linked to the production of specific products or services.

Drop the Product

The decision to discontinue the production and sale of a particular product, often due to low demand or profitability.

Activity-based Approach

A methodological approach that focuses on identifying and managing activities as the fundamental cost objects, aiming to improve business processes and allocate costs more precisely.

Job Costing Approach

A system used to assign manufacturing costs to an individual product or batches of products, commonly used in industries where products are distinct like construction or custom manufacturing.