Market Orientation Refers to

question 85

Multiple Choice

market orientation refers to

• A) the orientation of an organization that focuses its efforts on: (1) continuously collecting information about the environment; (2) keeping abreast of the actions of its competitors; and (3) using this information to create customer value.
• B) the orientation of an organization that focuses its efforts on: (1) continuously collecting information about customers' needs; (2) sharing this information across departments; and (3) using it to create customer value.
• C) 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.
• D) the belief that the buying environment for any given industry is relatively stable and therefore all marketing decisions should be long-term for fear of losing 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."

Identify the variations in organizational strategies and their impact on marketing planning and execution.

Understand the significance of core competencies, competitive advantages, and how they contribute to an organization’s success.

Grasp the principles of business portfolio analysis and how it aids in strategic decision-making.

Understand the significance of promoting divergent and convergent thinking in fostering organizational creativity.

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Definitions:

Job Losses

The elimination of positions within a company due to reasons such as economic downturns, restructuring, or automation.

Globalization

The process by which businesses, cultures, and national borders become more interconnected and interdependent, often through increased trade and communication.

Financialization

The growing dominance of financial markets, financial motives, financial institutions, and financial elites in the economy, shaping social and economic policies.

Free-Market Public Policies

Policies that advocate for minimal governmental intervention in the economy, emphasizing the role of market forces in allocating resources.