While All Marketing Plans Face a Number of Obstacles in Development

question 21

Multiple Choice

While all marketing plans face a number of obstacles in development and implementation. __________ is by far the most commonly occurring obstacle across most firms.

• A) failure to see the whole picture
• B) inadequate information
• C) resistance to change
• D) lack of time for planning
• E) inadequate communication

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Definitions:

Marginal Cost

The expense incurred from manufacturing an extra single unit of a service or product.

Monopolist

A monopolist is a market participant who has exclusive control over the supply of a particular good or service, setting prices with minimal competition.

Profits

The difference between a business's revenues and its expenses.

Marginal Costs

The added cost due to the production of an extra unit of a product or service.