Focusing on Customers Has Not Always Been the Hallmark of Strategic

question 25

Multiple Choice

Focusing on customers has not always been the hallmark of strategic planning. In fact. in the early 20^st century. firms tended to focus strictly on __________ rather than on developing relationships with customers.

• A) efficiency and quality
• B) selling products to customers
• C) marketing research
• D) growth and corporate profits
• E) new product development

---

Definitions:

Tying Contracts

Agreements where the seller of a product or service requires the buyer to also purchase a secondary product or service.

Sherman Act

A landmark federal statute in the field of U.S. antitrust law passed in 1890 to protect competition and prohibit monopolistic practices.

Clayton Act

A U.S. antitrust law, enacted in 1914, aimed at promoting competition and preventing unfair business practices.

Competitive Firms

Companies that operate in a market structure characterized by a large number of sellers producing similar but slightly differentiated products, where no single seller has significant market power to determine prices.