One of the Social Trends That Marketers Must Monitor to Maintain

question 132

Multiple Choice

One of the social trends that marketers must monitor to maintain their close relationship with customers is the

• A) increase in the number of competitors servicing the target market.
• B) amount of unemployment in the target market.
• C) number of people who can use computers with proficiency.
• D) increase in the number of older Americans.

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Definitions:

Setup Cost

The cost incurred to prepare equipment or a process for production, including the cost of adjusting machinery and the labor cost of setting up.

Holding Cost

Cost associated with maintaining inventory over a period of time, including storage, insurance, and opportunity costs.

EOQ Model

The Economic Order Quantity model calculates the optimal order size to minimize total inventory costs, including holding and ordering costs.