A Local Symphony Group That Has Adopted the Marketing Concept

question 191

Multiple Choice

A local symphony group that has adopted the marketing concept would be most likely to

• A) lower ticket prices until all its concerts sell out.
• B) advertise so consumers know about the quality of the musicians who play in its concerts.
• C) find out what kind of music local residents want to hear.
• D) use only its best musicians to handle solo performances.

---

Definitions:

Inventory Levels

The quantity of goods and materials on hand at a particular time.

Controlling Costs

The process of managing and regulating expenses in order to improve profitability without compromising quality or performance.

Merchandise Inventory Turnover

A measure of how many times a company’s inventory is sold and replaced over a specific period.

Inventory Management

The process of ordering, storing, and using a company's inventory, including raw materials, components, and finished products.