_________ is a principle of enlightened marketing that requires that a company seek real product and marketing improvements ?
Correct answer: A. Innovative marketing
- A. Innovative marketing
- B. Consumer oriented marketing
- C. value marketing
- D. Sense of mission marketing
Explanation
Innovative marketing requires a firm to pursue genuine improvements in its products and marketing methods instead of merely making promotional claims. Consumer-oriented marketing focuses primarily on identifying and satisfying customer needs.
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Individual consumers, firms and markets are examined through demand and supply, elasticity, consumer choice, production, costs, revenue and the determination of prices and output. The topic also covers market structures such as perfect competition, monopoly and oligopoly, plus market failure, externalities and the distinction between microeconomic decisions and economy-wide outcomes.
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