The Market Sensing Process of _____ Includes Motivating the Involvement

question 22

Multiple Choice

 The market sensing process of _____ includes motivating the involvement of staff who are in contact with customers in building understanding of change,new opportunities and threats.

• A) building open-minded inquiry
• B) analyzing competitors' actions
• C) listening to front-line employees
• D) searching for latent customer needs

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Definitions:

Economy's Performance

An evaluation of how well an economy is doing, commonly measured by indicators such as GDP growth, unemployment rates, and inflation.

Scarcity

The basic economic issue arises from the infinite human desires facing a scarcity of resources in the world.

Limited Resources

The finite availability of resources such as time, money, and materials, which necessitates choices about their allocation.

Scarcity

A fundamental economic problem of having seemingly unlimited human wants in a world of limited resources.