Which of the Following Statements About a Marketing Audit Is

question 17

Multiple Choice

Which of the following statements about a marketing audit is FALSE?

• A) A marketing audit takes a detailed looks at the firm's current marketing plans to see if they are still the best plans the firm can offer.
• B) A marketing audit should be done on a regular basis.
• C) The marketing strategy planning framework is useful in conducting a marketing audit.
• D) A good audit is internal and is not concerned with gathering information from outside the firm.
• E) Ideally, a marketing audit should not be necessary, but it often is.

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Definitions:

Budget Constraint

A limit on the consumption bundles that a consumer can afford based on their income and the prices of goods.

Income

The money received, typically on a regular basis, for work or through investments, crucial for determining spending, saving, and investment behaviors.

Bananas

A common type of fruit that is elongated and curved, with soft flesh rich in starch covered by a rind, which may be green, yellow, or brown when ripe.

Utility Function

A mathematical representation of how a collection of goods and services maps onto a level of utility or satisfaction for an individual or household.