As Firms Develop Their Marketing Mix, It Is Important to Remember

question 208

Multiple Choice

As firms develop their marketing mix, it is important to remember that

• A) prices must be linked directly to the cost of production.
• B) instincts and past history are the best guides in determining price.
• C) regardless of the strategy used, prices ultimately reflect the forces of supply and demand.
• D) firms are often restricted in creating pricing strategies by relevant government rules and guidelines.

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Definitions:

Organizational Creativity

The ability of a company or organization to generate or recognize ideas, alternatives, or possibilities that may be useful in solving problems, communicating, and entertaining.

Organizational Norms

Established standards of behavior or beliefs that dictate the proper way to act within a specific organization.

Employee's Concern

Refers to the issues, needs, or worries that workers have regarding their job, working environment, or benefits.

Scapegoating

The practice of unfairly blaming an individual or group for problems or adverse outcomes.