Business's Response to Consumerism Over Time Has Been One of

question 3

Multiple Choice

Business's response to consumerism over time has been one of

• A) benign neglect.
• B) rapid response.
• C) ineffective action, followed by improved responses.
• D) extreme care.

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Definitions:

Multisided Markets

Markets with two or more customer segments that are mutually independent of each other.

Diverted Markets

refers to markets where goods or services are redirected from their original or intended destination, often due to external factors like trade restrictions or high demand in another area.

Customer Segments

Different groups of customers within the market, each with specific needs, characteristics, or behaviors that a business might cater to.

Resonating-Focus Approach

A strategy that emphasizes deeply understanding customer needs and creating solutions that resonate strongly with those needs.