The Task Facing the Marketing Manager Is to Identify Variables

question 64

True/False

The task facing the marketing manager is to identify variables that describe customers in terms of their inherent characteristics,called descriptors,and to link those variables to customer behavior toward the product or service.

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Definitions:

Marginal Cost

The cost implicated in generating an added unit of a product or service.

Efficient Allocation

The distribution of resources in a way that maximizes the net benefit received by an economy.

Allocative Efficiency

A state of the economy where resources are apportioned in a way that maximizes the overall benefit to society.

Productive Efficiency

A state where an economy or entity cannot produce more of one good without producing less of another, utilizing all resources in the best possible way without waste.