After Hearing His Company Criticized for Its Failure to Respond

question 122

Multiple Choice

After hearing his company criticized for its failure to respond to consumer needs,the CEO of a bank realized that his company needs to adhere to the marketing concept and implement a market-oriented strategy.Which of the following actions would be the best approach to achieving this goal?

• A) reorganize the company and make marketing its most important department
• B) hire new salespeople to find new customers
• C) expand the advertising budget to make potential customers more aware of its product offerings
• D) create cross-functional teams and instruct them to focus on creating greater customer value
• E) hire a new product development manager

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Definitions:

Immature Ecosystems

Ecosystems in the early stages of development, which have yet to reach a stable climax community and are characterized by rapid changes in species composition and structure.

Food Webs

A food web consists of all the food chains in a single ecosystem.

Species Diversity

The variety and abundance of different species within a given ecosystem, essential for maintaining ecosystem health and resilience.

Terrestrial Ecosystems

Ecosystems found on land, characterized by distinct biotic (living) and abiotic (non-living) components, interacting in a specific area.