Market-Based Businesses Differ from Product-Focused Businesses in That Market-Based Businesses

question 33

Multiple Choice

Market-based businesses differ from product-focused businesses in that market-based businesses ________.

• A)focus on products and services
• B)are providers of solutions
• C)have a narrow view of customers' underlying problems
• D)lack a strong customer focus
• E)lack knowledge of customer usage

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Definitions:

Monetary Benefits

Financial gains obtained from actions such as investments, employment, or business operations.

Communicate Value

The process of conveying a product's or service's benefits and worth to potential customers.

Job Opportunities

Available positions of employment where individuals can apply to work in various fields.

Marketing Principles

The fundamental ideas or guidelines that underlie the marketing practice, focusing on product, price, place, and promotion.