The Traditional "Marketing-Mix" Concept and the Notion of the "4

question 60

Multiple Choice

The traditional "marketing-mix" concept and the notion of the "4 Ps" may not adequately describe modern marketing programs. ________ is about mixing and matching marketing activities to maximize their individual and collective effects.

• A) Individualizing marketing
• B) Globalizing marketing
• C) Personalizing marketing
• D) Institutionalizing marketing
• E) Integrating marketing

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Definitions:

Organizing Function

A core management function that involves arranging people, tasks, and resources to work together to implement plans and achieve stated objectives.

Elastic

A term used to describe a situation where the demand or supply of a good or service is sensitive to changes in price.

Inelastic

A characteristic of goods or services for which demand or supply does not significantly change in response to price changes.

Long Run

A period of time in which all factors of production and costs are variable, allowing for adjustment to changing market conditions.