A(n)_____ Describes and Estimates the Size and Sales Potential of Market

question 55

Multiple Choice

A(n) _____ describes and estimates the size and sales potential of market segments of interest to the firm and assesses key competitors in these market segments.

• A) marketing orientation
• B) environmental scan
• C) marketing mix audit
• D) target market strategy
• E) market opportunity analysis

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Definitions:

Cupcake Mix

A pre-prepared blend of ingredients used for baking cupcakes, requiring only the addition of a few wet ingredients.

Prime Costs

Prime costs are the direct costs of manufacturing a product, consisting of direct labor and direct materials.

Conversion Costs

The aggregate of labor and overhead expenses incurred in converting raw materials into finished goods.

Manufacturing Costs

Expenses directly related to the production of goods, including the costs of raw materials, direct labor, and overhead.