Which of the Following Statements Best Reflects the Guideline for Having

question 106

Multiple Choice

Which of the following statements best reflects the guideline for having complete and feasible marketing plans?

• A)The firm insists on having good marketing research.
• B)To motivate people,the firm sets achievable goals.
• C)The firm ensures that people at all levels in the firm understand what,when,and how they are to accomplish their tasks.
• D)The firm's marketing plan has all the key marketing mix factors and is supported by resources.
• E)The firm's marketing plan enables results to be compared with planned targets,using precise marketing metrics.

---

Definitions:

Absolute Advantage

The ability of an entity to produce a good or service more efficiently than its competitors, using fewer resources.

Comparative Advantage

The capacity for a person, company, or nation to generate a product or offer a service at a lesser opportunity cost compared to its rivals.

Opportunity Cost

The expense incurred by not choosing the second-best option available when a decision is made or an action is taken.

Pure Capitalism

An economic system characterized by private ownership of the means of production and where investments, distribution, income, production, and prices are determined by the market.