A Market Orientation Is Important for Firms Competing in High-Tech

question 23

Multiple Choice

A market orientation is important for firms competing in high-tech industries for all of the following reasons except:

• A)Market oriented behaviors are generally more important in highly dynamic markets.
• B)The behaviors implicit in a market orientation are a fertile source of ideas for innovation.
• C)Market oriented behaviors facilitate the commercialization of innovations.
• D)Pinpoints areas for cost reduction efforts.
• E)All of the above are important reasons for firms competing in high-tech industries to adopt a market orientation.

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Definitions:

Cost of Goods Sold

The direct costs attributable to the production of the goods sold by a company, including materials and labor costs.

Cash Collections

The process of gathering all cash receipts and payments, including those from customers and operational activities, within a particular period.

Merchandise Inventories

Merchandise Inventories consist of goods purchased and held for resale by retail or wholesale businesses, representing a critical component of current assets on the balance sheet.

Sales Budget

An estimate of expected sales revenue for a particular period, forming the basis of a company's revenue planning.