A Market Orientation Refers to

question 203

Multiple Choice

A market orientation refers to

• A)the orientation of an organization that focuses its efforts on: (1)continuously collecting information about the environment; (2)keeping abreast of the actions of its competitors;and (3)using this information to create customer value.
• B)the orientation of an organization that focuses its efforts on: (1)continuously collecting information about customers' needs; (2)sharing this information across departments;and (3)using it to create customer value.
• C)the belief that the buying environment for any given industry is volatile and therefore all marketing decisions should be short-term and easily adaptable to change.
• D)the belief that the buying environment for any given industry is relatively stable and therefore all marketing decisions should be long-term to prevent loss of focus.
• E)the point of view that holds that there is always someone who needs or can benefit from your product,and if one segment fails,there is an even better one somewhere in the "market."

Understand the calculation and meaning of financial ratios, specifically the quick ratio.

Analyze installment note payments and their effects on a company's financial statements.

Distinguish between different payroll items and their implications on employee and employer financial responsibilities.

Identify and apply appropriate accounting treatments for contingent liabilities.

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Definitions:

Lewis Structure

A representation of molecules showing all the atoms, valence electrons, and bonding between atoms as well as any lone pairs of electrons.

Lewis Structure

A graphical representation illustrating how atoms in a molecule are bonded together and depicting any unpaired electrons present within the molecule.

Boron Trifluoride

A chemical compound with the formula BF3, known for its role as a strong Lewis acid in organic and inorganic chemical reactions.

Octet

A rule in chemistry stating that atoms tend to combine in such a way that they each have eight electrons in their valence shells, giving them the same electronic configuration as a noble gas.