Which of the Following Statements Reflects the Philosophy of the Market-Oriented

question 106

Multiple Choice

Which of the following statements reflects the philosophy of the market-oriented era?

• A) A good product will sell itself.
• B) The customer is king.
• C) Firms should take advantage of a seller's market.
• D) Advertising and personal selling should be emphasized in order to make the sale.
• E) Firms should focus on value.

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Definitions:

Mailbox Rule

A legal principle stating that an offer is considered accepted once the acceptance is dispatched by the offeree, not when received by the offeror.

Mailbox Rule

A legal principle stating that an offer is considered accepted once the acceptance is dispatched, not when it is received.

Effective Upon Receipt

A condition indicating that a document, notification, or agreement becomes legally binding as soon as it is received by the intended party.

Online Businesses

Online Businesses operate on the internet, selling goods or services directly to consumers through digital platforms without a physical storefront.