55. The process of preparing managers and other professionals to assume increased responsibility in present and future positions is called employee training.
56. The results of training evaluations should not be made known to all those involved in training programs.
57. Evaluation of employees' current and potential accomplishments and contributions to a firm is called performance appraisal.
58. The results of an evaluation should be discussed with an employee soon after the evaluation is completed.
59. From time to time, time of the activities within the eight major functions of marketing are eliminated to provide for a more effective marketing process.
60. A product may be a good or a service but not an id
61. During the decline stage of the product life-cycle, the sales volume decreases sharply because of an increase in the number of competing firms.
62. In the decline life-cycle stage of a product, less profitable versions of the product are sold at reduced rates to cut losses.
63. The width of a product mix is a measure of the number of individual products within each line.
64. A brand mark is the part of a brand that consists of a symbol or distinctive design.
65. A trademark is legally protected from use by anyone except its owner.
66. Even if a grocery item is a generic product, a consumer can tell who produced it by examining the package carefully.
67. Generic brands are becoming more popular with today's price-conscious shoppers.
68. Brands help reduce a consumer's perceived risk of purchase.
69. A name, term, symbol, design, or any combination of these that identifies a product and distinguishes it from a competitor's product is called packaging.
70. Price is the amount of money a seller is willing to accept in exchange for a product, at a given time and under given circumstances
71. Price allocates goods and services among those who are willing and able to pay for them.
72. Management must set pricing objectives based on the primary objective of making a profit.
73. Time, place, and possession utility have no real value in terms of money.
74. Marketing activities amount to about one-half of every dollar that consumers spend.
75. A firm should have no more than one market segment in its marketing strategy.