Answer this questions by True / False

51. A transaction consists of a trade of values between two parties.

52. The key to successful customer retention is customer satisfaction.

53. Overcoming the reluctance of consumers to purchase enough of the product is characteristic of the product concept.

54. The marketing concept takes an "outside-in" perspective on the exchange process.

55. Selecting an overall company strategy for long-run survival and growth is called strategic planning.

56. The president of the small business turned to his Marketing VP and stated strategic planning was the basis of his entire success since it was the process he used to hire all his key personnel. His statement is a true reflection of strategic planning.

57. Bestrad Company designed its mission statement so employees felt their work was significant. This is a good idea, true or false?

58. The strategic business-planning grid uses an index of factors for plotting the dimensions used in evaluating SBUs.

59. If Kellogg's created a Rice Krispie product high in fibre and vitamins, targeted at the 65 + age group, it would be following a strategy of market penetration.

60. When General Mills introduced their Honey Nut Cheerios to complement its regular Cheerio product, it was practicing a market development strategy.