Which of the following best describes marketing?
Which dimension of market orientation is concerned with studying the needs of the customers, broadening the verbalized needs, analysing exogenous factors affecting the need and identifying possible future needs:
Intelligence dissemination
Intelligence generation
Responsiveness
None of these
Answers
Answer:
Marketing is a process of the business firm which deals with the creation of awareness, goodwill and well understanding about the produced goods and services.
Talking about,
The dimension that helps market orientation with concerned the study of the need customers, broadening the verbalized, analyzing exogenous factors affecting the need and identifying possible future needs is Intelligence generation.
This helps to maintain the communication between the customer/ consumer and producer for a better understanding regarding the needs and wants of the market.
Answer:
Intelligence generation
Explanation:
The market orientation is the perspective of the market which includes decision-making; market intelligence; strategic perspective and customer orientation perspective.
The market orientation perspective is divided into three stages:
- Intelligence generation includes interacting with customers, analyzing the needs of the customers, and determining the future of the company.
- Intelligence dissemination includes spreading intelligence regarding marketing within the organization.
- Responsiveness includes developing unique products, make investment, and developing relationship with new partners.