Trust and Customer Satisfaction Are the Two Main Marketing Goals

question 32

True/False

Trust and customer satisfaction are the two main marketing goals.

Analyze a business scenario to identify SWOT (Strengths, Weaknesses, Opportunities, Threats) elements.

Identify the components of the strategic planning process and the importance of control systems.

Understand the importance of a code of ethics being supported and enforced by management.

Recognize the role of competitive advantages and strategies in business sustainability and growth.

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Definitions:

Variable Costs

Expenses that change in direct proportion to the amount of production or output.

Total Cost

The sum of all costs incurred by a business in the production of goods or services, including fixed and variable costs.

Prospective Sales

Forecasted or anticipated sales based on current trends, marketing strategies, and economic conditions.

Economies of Scale

Cost advantages reaped by companies when production becomes efficient, as the cost per unit of output decreases with increasing scale.