Firms That Have Adopted ________ Seek to Do More Than

question 94

Multiple Choice

Firms that have adopted ________ seek to do more than simply sell a product; they seek to learn as much as possible about their customers in order to satisfy them with goods and services over time.

• A) nonprofit marketing
• B) customer relationship management
• C) management by objectives
• D) the marketing mix

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Definitions:

Feasible Terms

Conditions or criteria that can be realistically achieved or met in a particular context or agreement.

Production Possibilities

The different combinations of goods and services that a society can produce given its available resources and technology.

Comparative Advantage

The ability of an individual, firm, or country to produce a certain good or service at a lower opportunity cost than competitors.

International Specialization

The economic strategy where countries focus on the production and export of goods and services for which they have a comparative advantage.