Which of the Following Statements About Marketing Audits Is True

question 123

Multiple Choice

Which of the following statements about marketing audits is true?

• A) Marketing audits only need to be performed once.
• B) The main purpose of the marketing audit is to develop a full profile of a company's marketing effort.
• C) Marketing audits should only be performed after a major crisis.
• D) Marketing audits simply examine the external environment in which a company operates.
• E) The marketing audit should only be performed by outside accounting firms

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Definitions:

Long-Run Average Cost

The per-unit cost of production in the long run, where all inputs are variable and economies of scale have been reached.

Marginal Cost

The cost incurred in producing one additional unit of a product or service.

Average Total Cost

The sum of all production costs divided by the quantity of output produced, representing the per-unit cost of production.

Mixers

Devices used for mixing components; in an economic context, could refer to firms or gadgets blending products in the market.