In Times Past

question 14

Multiple Choice

In times past. developing and implementing the "right" marketing strategy was all about __________. In today's economy. however. that emphasis has shifted to developing strategies that attract and retain customers over the long term.

• A) aggressive selling in order to maximize sales volume
• B) creating a large number of transactions in order to maximize the firm's market share
• C) conducting extensive research to discover customer needs
• D) making the highest quality product
• E) making products of moderate quality that could be sold at the lowest possible price

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Definitions:

Break-even Analysis

An assessment to determine the point at which revenue received equals the costs associated with receiving the revenue, indicating no net loss or gain.

Time Management Tool

A device or software used to organize, plan, and allocate one's time efficiently for tasks and activities.

Gross Profit Percentage

A financial metric that represents the proportion of revenue that exceeds the cost of goods sold, expressed as a percentage.

Break-even Point

The point at which total costs and total revenue are equal, resulting in no net loss or gain.