Marketing Implementation Is Critical to the Success of Any Firm

question 9

Multiple Choice

Marketing implementation is critical to the success of any firm. Simply put, implementation refers to:

• A) how the marketing plan will be put into action.
• B) how the marketing plan will be approved by top management.
• C) the process by which employees learn about the marketing strategy.
• D) the process by which the marketing strategy will be developed.
• E) deciding who will actually write the marketing plan.

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Definitions:

Production Possibilities Frontier

A curve that illustrates the maximum feasible amount of two goods that can be produced with given resources and technology.

Opportunity Cost

The financial setback of forgoing the next highly regarded alternative when determining a course of action.

Technological Advance

Improvements and innovations in technology that increase productivity, efficiency, and economic output.

Machine-making Industry

A sector of the economy focused on the manufacturing and maintenance of machines and mechanical equipment.