When a Company Creates a New Market by Understanding Its

question 105

Multiple Choice

When a company creates a new market by understanding its competitors and listening to the market, it is called __________________.

• A) International orientation
• B) Market share optimization
• C) Competitor orientation
• D) Customer orientation
• E) Operations management

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Definitions:

Manufacturing Capacity

The maximum amount of products that can be produced in a manufacturing facility within a given timeframe, considering the limitations of resources and space.

Labor Market

The supply and demand for labor, where workers seek employment and employers look for workers.

Capacity Management

The process of planning and controlling a business or organization's resources to ensure it can meet demand, both current and future, without excessive costs or waste.

Time Flexibility

The adaptability of schedules or timelines to accommodate changes or unforeseen events, often enhancing efficiency or satisfaction.