The Main Focus of a Marketing-Oriented Firm Is

question 25

Multiple Choice

The main focus of a marketing-oriented firm is:

• A) inward upon the skills and competitive technological advantages of the firm
• B) inward upon the organization's needs
• C) outward upon societal responsibilities
• D) inward upon the abilities to deliver goods and services
• E) outward upon the wants and needs of customers

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Definitions:

Substitution

The act of replacing one good or service with another in response to changes in price or preference, affecting consumer choices and market demand.

MU/P

Refers to the marginal utility per price, a concept in economics that describes the additional satisfaction or utility that a consumer gains from consuming one more unit of a good or service, relative to its price.

Process Innovation

The implementation of a new or significantly improved production or delivery method.

Scientific Principles

Fundamental concepts or laws that are based on scientific evidence and reasoning, serving as the foundation for scientific research and understanding of the natural world.