Which of the Following Statements About Marketing Is True

question 98

Multiple Choice

Which of the following statements about marketing is true?

• A) It is of little importance when products are standardized.
• B) It can help create jobs in the economy by increasing demand for goods and services.
• C) It helps to build a loyal customer base but has no impact on a firm's intangible assets.
• D) It is more important for bigger organizations than smaller ones.
• E) It is seldom used by nonprofit organizations.

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Definitions:

Elastic

A term used in economics to describe the sensitivity of the demand or supply of a good or service to changes in its price.

Perfectly Inelastic

A situation in which the quantity demanded or supplied does not change regardless of any change in price.

Fixed Number

A specific, unchanging quantity that does not vary under different conditions or over time.

Supply Curve

A graph showing the relationship between the price of a good and the amount of it that producers are willing to supply at those prices.