Competition Is

question 12

Multiple Choice

Competition is:

• A)the consequence of "more is better."
• B)utterly harmless.
• C)inherently bad.
• D)independent of scarcity.

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Definitions:

Production-oriented Era

Refers to a period in business history where the focus was primarily on production efficiency, manufacturing, and product capabilities rather than the needs or desires of customers.

Sales-oriented Era

A period in business history when the main focus of companies was increasing sales, often without regard to customer needs or satisfaction.

Market-oriented Era

The Market-oriented Era is a phase in marketing history characterized by a focus on meeting customers' needs and desires, understanding market demand, and creating value through marketing activities.

Value-based Marketing

A marketing approach that focuses on delivering products and services based on the perceived value they provide to customers, aiming to maximize customer satisfaction and retention.