The Key Tool in the Marketing Strategy of Every Successful

question 60

Multiple Choice

The key tool in the marketing strategy of every successful organization for reaching the targeted customer is:

• A) planning the marketing strategy.
• B) improving marketing premises.
• C) market segmentation.
• D) market criteria.

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Definitions:

Opportunity Cost

The cost of foregoing the next best alternative when making a decision, representing the benefits one misses out on.

Production Possibilities Schedule

A table or graph showing the different quantities of two goods that can be produced using the same resources fully and efficiently.

Steel

A hard, strong alloy of iron with carbon and usually other elements, used extensively as a structural and fabricating material.

Utility

A measure of satisfaction, usefulness, or value derived from consuming goods and services.