In a Firm with a Production Orientation

question 163

Multiple Choice

In a firm with a production orientation

• A) inventory levels are set with customer requirements and costs in mind.
• B) profit is viewed as a critical objective.
• C) costs that do not give value to customers are eliminated.
• D) marketing research, if used at all, is for determining customer reaction.
• E) advertising is focused at need-satisfying benefits of goods and services.

Comprehend how information systems support high-performance work environments.

Acknowledge the impact of task design and employee empowerment on organizational performance.

Understand the importance of ethical behavior and continuous learning in achieving high performance.

Recognize how a learning culture facilitates high performance and innovation.

---

Definitions:

Pure Monopoly

A market scenario in which one company monopolizes the entire market for a specific product or service, lacking any significant alternatives.

Price Discrimination

A pricing strategy where identical or substantially similar goods or services are sold at different prices by the same provider in different markets.

Market Segmentation

The process of dividing a broad market into distinct subsets of consumers with common needs or characteristics, allowing for targeted marketing strategies.

Monopoly Power

The exclusive control or significant influence over a market by a single company, allowing it to restrict competition and dictate prices.