In Addition to Planning for Change, Marketers Must Set Goals

question 31

True/False

In addition to planning for change, marketers must set goals to meet concerns of customers, employees, shareholders, and members of the general public.

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Definitions:

Direct Materials Budget

A financial plan that estimates the raw materials needed for production and the associated costs.

Production Budget

An estimate of the number of units that must be produced during a period to meet expected sales demand and to satisfy ending inventory requirements.

Raw Materials

These are the basic, unprocessed inputs used in manufacturing to produce finished goods.

Selling and Administrative Expense Budget

A detailed plan that estimates the expenses related to selling products and managing the business.