Question

A market orientation refers to:__________

a) 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.
b) 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."
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 orientation of an organization that focuses its efforts on continuously collecting information about customers' needs, sharing this information across departments, and using it to create customer value.
e) the orientation of an organization that focuses its efforts on continuously collecting information about the environment, keeping abreast of the actions of its competitors, and using this information to create product innovation.

Answer 1

The answer is D) A market orientation refers to the orientation of an organization that focuses its efforts on continuously collecting information about customers' needs, sharing this information across departments, and using it to create customer value.

Step-by-step explanation:

The philosophy of market orientation is concerned with crating value that meets the needs of customers.

A company that applies market orientation in their approach and processes seeks ways to identify the needs of customers, they study these wants, find our how well their competitors are meeting them and then create innovative value with a competitive edge that will sell easily.

The design and packaging of these customer orientated goods and services is meant to be cost effective for the sake of maximizing profit.