Abercrombie & Fitch Is Developing a Program to Get to Know

question 115

Multiple Choice

Abercrombie & Fitch is developing a program to get to know its customers. Which of the following is not a reason why A&F needs to understand consumer buying behavior?

• A)customer's reactions to marketing strategy can impact the firm's success
• B)all customers are the same when it comes to buying behavior
• C)a firm should create a marketing mix that satisfies customers
• D)it helps the marketer predict how consumers will respond to marketing strategies
• E)the marketing concept stresses that a firm should know its customers

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Definitions:

Capital

Financial assets or the financial value of assets, such as cash and goods, used to generate wealth through investment or production.

Marginal Product

The additional output resulting from a one-unit increase in the use of a variable input, holding all other inputs constant.

Price of Labor

The compensation received by employees for their work, often influenced by factors like skill, industry demand, and geographic location.

Price of Capital

This entails the expenses linked to acquiring and utilizing capital goods, such as machinery, indicating the return investors demand for use of their capital.