A Firm Focusing More on How to Provide Value to Customers

question 18

Multiple Choice

A firm focusing more on how to provide value to customers than on the physical product or production process is embracing a(n) ____ orientation.

• A)marketing
• B)quality
• C)external
• D)value

---

Definitions:

Time Lag

The delay between the cause or initiation of an event and its effect or outcome, often used in the context of economic policy impacts.

Economic Problem

The fundamental issue arising from the scarcity of resources relative to human wants, necessitating choices and prioritization in the allocation of resources.

Policy Change

Alterations or adjustments made by government or organizations in existing policies to address new issues or improve outcomes.

Public Reaction

The response of the general public to a particular action, event, or situation, often influencing public opinion and policy.