One of the reasons given for the decline of Britannica is that the firm defined its business as publishing books instead of providing information.Britannica failed to:
A) define its mission in terms of the benefits its customers seek
B) ignore the marketing concept of serving customer needs and wants
C) realize "customers only want what they know"
D) have a sales orientation
E) empower the consumer

Question

Quizplus · Accepted Answer

A market-oriented firm defines its business in terms of the benefits its customers seek.Because of the limited way Britannica defined its business,it missed an opportunity to define itself in terms of the benefits customers were seeking.

One of the Reasons Given for the Decline of Britannica