A Market Orientation Refers to

question 218

Multiple Choice

A market orientation refers to

• A)the orientation of an organization that focuses its efforts on continuously collecting information about the environment, keeping abreast of the actions of its competitors, and using this information to create product innovation.
• B)the belief that the buying environment for any given industry is volatile and therefore all marketing decisions should be short-term and easily adaptable to change.
• C)the orientation of an organization that focuses its efforts on continuously collecting information about customers' needs, sharing this information across departments, and using it to create customer value.
• D)the belief that the buying environment for any given industry is relatively stable and therefore all marketing decisions should be long-term to prevent loss of focus.
• E)the point of view that holds that there is always someone who needs or can benefit from your product, and if one segment fails, there is an even better one somewhere in the "market."

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Definitions:

Factor Analysis

A statistical method used to describe variability among observed variables in terms of a potentially lower number of unobserved variables, called factors.

Clusters

Groups or collections of similar items, events, or individuals, closely positioned together or forming a pattern based on certain criteria.

Logistic Regression

A statistical analysis method used for predicting the outcome of a categorical dependent variable based on one or more predictor variables.

Meta-Analysis

A statistical technique that combines the results of multiple scientific studies to arrive at a comprehensive conclusion.