The Marketing Mix Is Built Around the

question 53

Multiple Choice

The marketing mix is built around the

• A) product.
• B) company.
• C) customer.
• D) employee.
• E) retail outlet.

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Definitions:

Demand-Pull Inflation

Inflation caused primarily by an increase in aggregate demand: too many dollars chasing too few goods.

Wage-Price Spiral

A situation where rising wages lead to higher prices, which in turn lead to demands for even higher wages, creating a cycle of inflation.

Joseph Schumpeter

An economist known for his theories on economic development and creative destruction.

Theory of Innovations

A conceptual framework that explains how new ideas, products, and practices spread within a society or from one society to another, often driving economic growth and social change.