________ Marketing Is Practiced by an Organization That Understands and Anticipates

question 94

Multiple Choice

________ marketing is practiced by an organization that understands and anticipates customer needs even better than customers themselves do and creates products and services to meet current and future needs.

• A) Customer-driven
• B) Customer-driving
• C) Affinity
• D) Societal
• E) Ambush

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Definitions:

Quotas

Restrictions set by a government on the amount of a particular good that can be imported or produced within a certain timeframe.

Comparative Advantage

The ability of an individual or group to carry out a particular economic activity more efficiently than another activity.

Absolute Advantage

The ability of a country, individual, or firm to produce more of a good or service than competitors using the same amount of resources.

Opportunity Cost

The cost of forgone alternatives when a decision is made to choose one option over others.