The Systematic Gathering of Information on Customers and Competitors,both Present

question 61

Multiple Choice

The systematic gathering of information on customers and competitors,both present and potential pertains to:

• A) Market development
• B) Market penetration
• C) Product development
• D) Customer satisfaction
• E) Market orientation

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Definitions:

Major Functions

The primary and most important activities performed by an organization, system, or process to achieve its goals.

Geographic Market

A specific area or region in which a company aims to sell its products or services, determined by geographical boundaries.

Monopolization

The process or state where a single company or entity gains exclusive control over a particular market or industry, often regarded negatively due to its impact on competition.

Horizontal Price Fixing

An illegal practice where competitors agree to set their prices at a certain level, rather than competing fairly.