If the Agent Exceeds His or Her Authority,liability Results-Unless the Principal

question 37

True/False

If the agent exceeds his or her authority,liability results-unless the principal ratifies the act or the third party has knowledge of the unauthorization.

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Definitions:

Marketing Mix Elements

The components of a marketing strategy, traditionally identified as product, price, place, and promotion, used to meet the needs of a target market.

Dependent Variables

In research, these are variables that are expected to change as a result of changes in the independent variables.

Independent Variable

The variable in an experimental setting that is manipulated to observe its effect on a dependent variable.

Marketing Action

Specific tasks undertaken by a company to promote and sell its products or services to its target market.