The Time It Takes a Subject to Make a Choice

question 30

Short Answer

The time it takes a subject to make a choice between two alternatives is known as ________ _______.

---

Definitions:

Production-oriented Era

A period in business where the focus was on production efficiency and product improvement, often at the expense of consumer needs and preferences.

Sales-oriented Era

A period in business history when companies prioritized selling their products and convincing consumers to buy, often regardless of actual customer need.

Market-oriented Era

A period in business characterized by firms prioritizing customer needs and desires, focusing on market research, and product development to meet those needs.

Value-based Marketing

A strategic approach that focuses on delivering products and services based on the perceived value to the customer rather than solely on price.