Companies that rely on the marketing concept and have implemented a market orientation strategy recognize that:
a. price is the most important variable for customers.
b. products should be targeted at everybody or the average customer.
c. customer wants can be satisfied by integrating activities of the firm.
d. good promotion and advertising strategies can save a bad product.
ANSWER: c
The marketing concept includes integrating all the organization's activities, including production, to satisfy customer wants.
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Which organization is responsible for setting auditing standards and oversees the audits of public companies in the United States?
A) Financial Accounting Standards Board B) Public Company Accounting Oversight Board C) American Institute of Certified Public Accountants D) Securities Exchange Commission
Six food critics each visited and rated four different restaurants. Each critic visited each restaurant on three separate occasions and recorded a score for each visit
The critical value for testing whether there is any difference among the four restaurants, using the 0.05 level of significance is approximately F = 2.8. Indicate whether the statement is true or false