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:

Push And Pull Systems

Supply chain strategies where "push" involves production based on forecasted demand and "pull" relies on actual demand signals for production.

Inventory Management System

A technology-based approach that tracks inventory levels, orders, sales, and deliveries to ensure that the right product is available at the right time.

Seasonality

The occurrence of fluctuations in demand, production, or other variables based on seasonal trends or patterns, often predictable within a calendar year.