Which of the Following Best Explains the Role of Marketing

question 35

Multiple Choice

Which of the following best explains the role of marketing research by the 1960s?

• A) marketing research seemed to outlive its usefulness
• B) the Marketing Research Association, Inc., was formed and accepted all firms as members whether accredited or not
• C) the number of marketing research departments grew
• D) few people wanted to major in marketing research
• E) marketing research gained acceptance in organizations and was recognized as being needed for survival

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Definitions:

Efficiency

The ability to accomplish a job with a minimum expenditure of time and effort, or the ratio of the output to the input of any system.

Sustainable

The practice of using natural resources in a way that maintains ecological balance and ensures availability for future generations.

Full-cost Pricing

The practice of setting prices based not only on production costs but also on accounting for environmental and social costs associated with the product or service.

Market Price

The current price at which an asset or service can be bought or sold in a particular marketplace.