Regarding the Five Stages in Marketing Evolution

question 263

Multiple Choice

Regarding the five stages in marketing evolution:

• A) Few firms have graduated to the marketing company era.
• B) For most firms, the sales era continued until at least 1950.
• C) In the marketing department era, firms began to do long-run planning.
• D) The production era was the first era to evolve.

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Definitions:

Operational Risks

The risks of loss resulting from inadequate or failed internal processes, people and systems, or from external events impacting the operation of a business.

Structural Risks

Refers to the potential for failure or significant damage to a system, organization, or structure due to inherent weaknesses or flaws.

Operational Risks

The possibility of experiencing a loss due to inefficient or malfunctioning internal procedures, individuals, and systems, or owing to occurrences outside the organization's control.

Vendors Quality

The measure of excellence or state of being free from defects, deficiencies, and significant variations, brought by the strict and consistent adherence to measurable and verifiable standards to meet consumer's satisfaction by the vendor.