The Following Table Provides Data for an Economy in a Certain

question 71

Multiple Choice

The following table provides data for an economy in a certain year._ Given the data in the table, compute the value of GDP.

• A)2,400
• B)2,500
• C)2,600
• D)2,700

Identify the benefits of planning for individuals and organizations.

Describe the steps in the planning process.

Recognize the types of plans used by managers and their applications.

Understand the attributes of effective goals and the importance of goal alignment in organizational performance.

---

Definitions:

Marketing Mix

The combination of variables that a company can control to influence consumers to purchase its products, often categorized into the four Ps: Product, Price, Place, and Promotion.

Product

An item or service created as a result of a process and serves a need or wants.

Market Segmentation

The process of dividing a broader market into smaller, distinct groups of consumers with similar needs, characteristics, or behaviors who might require separate products or marketing mixes.

Marketing Plan

A comprehensive document or blueprint that outlines advertising and marketing efforts for the coming year; it encompasses strategies, costs, and action steps.