Regarding the Five Stages in Marketing Evolution

question 222

Multiple Choice

Regarding the five stages in marketing evolution,

• A) in the marketing department era, firms do both short-run and long-run planning.
• B) the first era to evolve was the sales era.
• C) in the marketing company era, firms do short-run planning only.
• D) most firms operate in the production era.
• E) None of these responses is true.

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Definitions:

Consumption

The use of goods and services by households that leads to a decrease in their availability.

Disposable Income

Available financial merits for households towards spending and saving following income tax subtractions.

MPC

Marginal Propensity to Consume, which is the proportion of any additional income that is spent on consumption rather than being saved.

Savings

Money set aside typically in financial instruments, representing deferred consumption or for future use.