All of the Following Situations Are Conducive to Market Development

question 101

Multiple Choice

All of the following situations are conducive to market development except:

• A) when an organization competes in a high-growth industry.
• B) when an organization is very successful at what it does.
• C) when new untapped or unsaturated markets exist.
• D) when an organization has excess production capacity.
• E) when an organization's basic industry is becoming rapidly global in scope.

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Definitions:

Customer Orientation

a business approach focused on understanding and meeting the actual needs and desires of customers, rather than just selling products or services.

Customer Satisfaction

The measure of how products or services provided by a company meet or surpass customer expectation.

Production Era

A historical period in business thought where the focus was primarily on production efficiency and manufacturing output, often at the expense of customer needs or desires.

Consumer Demand

The desire of purchasers for products or services that they are willing and able to buy at given prices.