Which Marketing Management Philosophy Focuses on the Question,"What Do Customers

question 124

Multiple Choice

Which marketing management philosophy focuses on the question,"What do customers want and need,and how can we benefit society?"

• A) Internal orientation
• B) External orientation
• C) Sales orientation
• D) Societal marketing orientation
• E) Production orientation

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Definitions:

Collude

To come to a secret understanding for a harmful purpose; conspiracy between firms to fix prices or otherwise restrict competition.

Tacit Collusion

A situation where firms in a market understand each other's behaviors and outcomes without direct communication, leading to a form of non-competitive equilibrium.

Antitrust Laws

Legislation enacted to prevent new monopolies from forming and police those that already exist to protect consumers and ensure fair competition in the marketplace.

Predatory Pricing

A strategy where a company sets very low prices to eliminate competition and establish a monopoly in the market.