That the company that overlooks new and better ways to do things will eventually lose customers to another company that has found a better way to serving customer needs is a major tenet of ?
Correct answer: A. innovative marketing
- A. innovative marketing
- B. consumer oriented marketing
- C. value marketing
- D. sense -f mission marketing
Explanation
Innovative marketing requires a firm to seek new and better ways to satisfy customer needs, since failing to innovate can cause customers to switch to competitors. Consumer-oriented marketing focuses broadly on understanding and satisfying customer needs, but the emphasis here is specifically on innovation.
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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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