A Market Orientation Refers to

question 203

Multiple Choice

A market orientation refers to

• A)the orientation of an organization that focuses its efforts on: (1)continuously collecting information about the environment; (2)keeping abreast of the actions of its competitors;and (3)using this information to create customer value.
• B)the orientation of an organization that focuses its efforts on: (1)continuously collecting information about customers' needs; (2)sharing this information across departments;and (3)using it to create customer value.
• C)the belief that the buying environment for any given industry is volatile and therefore all marketing decisions should be short-term and easily adaptable to change.
• D)the belief that the buying environment for any given industry is relatively stable and therefore all marketing decisions should be long-term to prevent loss of focus.
• E)the point of view that holds that there is always someone who needs or can benefit from your product,and if one segment fails,there is an even better one somewhere in the "market."

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Definitions:

Adjusted Trial Balance

A statement prepared after adjusting entries are made, used to verify the balance of debits and credits before preparing financial statements.

End-of-period Spreadsheet

A tool used in accounting to gather all the financial data and adjustments needed to prepare financial statements at the end of an accounting period.

Adjusted Trial Balance

A listing of all company accounts that will appear in the financial statements after adjustments have been made for journal entries.

Adjustments Column

A column in accounting ledgers or tables used to record changes or corrections to initial entries prior to preparing financial statements.