Companies That Practice Both a Reactive and Proactive Marketing Orientation

question 120

Multiple Choice

Companies that practice both a reactive and proactive marketing orientation are implementing a ________ and are likely to be the most successful.

• A) total market orientation
• B) external focus
• C) customer focus
• D) competitive, customer focus
• E) confrontation process

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Definitions:

Perfectly Competitive Firm

A theoretical concept where a company operates in a market where there are many buyers and sellers, all selling homogeneous products, with no barriers to entry or exit.

Monopolist's Product

A product that has no close substitutes, making the seller the sole provider and able to control market prices.

Price Taker

An entity (often a company or individual) that has no control to dictate prices for goods or services in the market and must accept the prevailing market price.

Maximum Profit

The highest possible financial gain that a business can achieve from its operations over a specific period.