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:

Trade Credit

A financing arrangement where a buyer is allowed to purchase goods or services and pay the supplier at a later scheduled date.

Immediate Payment

A payment that is required to be made at the time of purchase or transaction.

Political Subdivisions

Entities established under the authority of a larger government, typically used for administrative purposes, such as counties or municipalities.

Debt Obligations

Liabilities or amounts of money that a company or individual owes to lenders or creditors.