A Reactive Stance to the Marketing Environment Is BEST Described

question 32

Multiple Choice

A reactive stance to the marketing environment is BEST described as one where marketers:

• A) view change as something that must be investigated occasionally.
• B) attempt to forecast changes and develop strategies for minimizing the impact of change.
• C) do nothing and hope that change will not impact on operations or markets.
• D) treat the environment as an uncontrollable element to which they must respond or adapt.
• E) view change as undesirable, threatening and potentially dangerous.

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Definitions:

Marginal Benefit

The heightened pleasure or utility a person obtains from the additional consumption of a unit of a good or service.

Gadgets Production

The process of creating and manufacturing devices, often electronic, that are designed to perform a particular function or task.

Marginal Cost

The cost incurred by producing one additional unit of a good or service.

Sunk Cost

A cost that has already been incurred and is not recoverable.