A manufacturer of stereo equipment views its mission as "providing moderate cost and innovative sound systems for enthusiasts." The firm evaluates consumer trends on a regular basis, and has modified its entire marketing plan when appropriate. For example, it recently developed a high-quality, but very compact radio system comparable in sound to systems four times larger. The product was based on a research study that suggested that such a product was needed based on space considerations in dormitories and small apartments. Which era in the evolution of marketing best characterizes the firm?

Question

Quizplus · Accepted Answer

The firm's approach of regularly evaluating consumer trends and modifying its marketing plan to develop products that meet specific consumer needs, such as the compact radio system designed for small living spaces, aligns with the characteristics of the Marketing Company Era. This era focuses on meeting the needs and wants of target markets through coordinated marketing activities and considering marketing as a guiding philosophy for the entire company.

A Manufacturer of Stereo Equipment Views Its Mission as "Providing