Market Sensing Is Concerned with the Ability of Organizations to Continuously

question 27

True/False

Market sensing is concerned with the ability of organizations to continuously learn about their markets,and acts as an antecedent to market orientation.

---

Definitions:

Craftsmanship

The quality of design and work shown in something made by hand; artistry.

Pricing Constraints

Limitations or restrictions that affect the pricing strategy of a company, including costs, competition, demand, and regulatory requirements.

Demand Factors

Various elements that influence the demand for a product or service, including price, consumer preferences, and economic conditions.

Pricing Margins

The difference between the cost of a product or service and its selling price, which is expressed as a percentage of the selling price.