Adam Smith Claims That the People Seeking Self-Interest in a Free

question 52

True/False

Adam Smith claims that the people seeking self-interest in a free market through competition can benefit society as a whole.

---

Definitions:

STP Process

Acronym for Segmentation, Targeting, and Positioning, a strategic approach in marketing to identify target audiences and develop tailored marketing strategies.

Target Market

The specific group of consumers at which a company aims its products and services.

Segmentation Process

The act of dividing a broad consumer or business market, normally consisting of existing and potential customers, into sub-groups based on some type of shared characteristics.

Marketing Strategy

A firm’s target market, marketing mix, and method of obtaining a sustainable competitive advantage.