Marketers First Identify Consumer Needs and Then Provide Products That

question 108

Multiple Choice

Marketers first identify consumer needs and then provide products that satisfy those needs,ensuring the firm's long-term profitability.

• A)consumer orientation
• B)marketing concept
• C)production orientation
• D)marketing mix
• E)total quality management orientation

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Definitions:

Tax Revenue

Income earned by the government from taxing individuals and businesses.

Tax

An obligatory fiscal charge or another form of assessment applied to a taxpayer by a government body to finance government operations and diverse public expenses.

Deadweight Loss

Deadweight loss is an economic inefficiency that arises when a market outcome is not optimal, resulting in a loss of total surplus due to factors like taxes or monopolies.

Supply

The total amount of a product or service that is available for purchase at any given time.