Comparing the Business Practices of the 1950s to Those of Today

question 98

Multiple Choice

Comparing the business practices of the 1950s to those of today indicates that today's marketing managers

• A) have a more ambitious goal of not just satisfying customers, but of exceeding their expectations.
• B) are much more focused on production and mass marketing.
• C) put less emphasis on earning a profit, since doing so makes it harder to satisfy the needs of the firm's stakeholders.
• D) operate essentially the same as their predecessors.

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Definitions:

Contingency Approach

A managerial strategy that suggests the most appropriate organizational behavior is dependent on the specifics of the situation.

Theoretical

Concerning the abstract principles or models that are used to explain empirical phenomena.

Research-Oriented

Describes an approach or organization that prioritizes investigation, analysis, and study to drive innovation and development.

Contingency Approach

A management theory that suggests the best way to manage an organization depends on the specific circumstances.