Final answer:
A business can achieve its own objectives by developing innovative goods, services, or ideas, which can lead to higher efficiency, satisfy customer needs, and provide a temporary competitive advantage. Innovation aligns with company objectives like growth and profitability, and is essential for staying ahead in market competition. Option A is correct.
Step-by-step explanation:
According to the marketing concept that emphasizes customer satisfaction, a business can also achieve its own objectives through different strategies. One effective way is to develop innovative goods, services, or ideas. Innovations can allow a firm to produce products more efficiently and offer features that meet consumer needs, which can lead to higher profits. As highlighted by Gregory Lee, CEO of Samsung, innovation is a key principle that allows consumers to discover a world of possibilities with technology. By fostering innovation, a business can gain a temporary competitive advantage and earn above-normal profits until rivals catch up, which aligns with the company's objectives of growth and profitability.
Aside from innovation, firms can also increase demand for their products through various means such as product differentiation. Intangible aspects like a reputation for high quality, promises of satisfaction guarantees, or services like free delivery create product differentiation that can sway consumer preferences without needing to alter the physical product.