In a Firm with a Production Orientation

question 32

Multiple Choice

In a firm with a production orientation

• A) customer needs determine company plans.
• B) relationship with customer extends beyond a single sale.
• 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.

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Definitions:

Mark-up on Cost

It is the amount or percentage added to the cost price of goods to cover overhead and profit.

Future Shop

A now-defunct Canadian electronics retailer that was absorbed by Best Buy.

Normal Retail Price

The standard selling price of a good or service in the retail market before any discounts or promotions are applied.

Computers

Electronic devices that execute specific tasks based on programmed instructions, capable of processing, storing, and retrieving data.