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Contemporary Marketing 15th Edition by Louis Boone, David Kurtz
Edition 15ISBN: 9781111579715Contemporary Marketing 15th Edition by Louis Boone, David Kurtz
Edition 15ISBN: 9781111579715 Exercise 2
What condition in the marketplace gave rise to the need for a consumer orientation by businesses after World War II?
Explanation
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Consumer orientation:
The business strategies that mainly concentrate on marketing efforts that indicate the consumer needs, and crafting an arrangement for satisfying the needs, is called as consumer orientation.
Conditions in market place:
The following are the consumer orientation needs after World War II:
• Producing more consumer products: The organization starts to produce more products, as per the requirement of consumers.
• Satisfying the consumer wants: In order to attract and retain the consumers, the organization should be able to satisfy the customers.
• Cutting the price and raising the revenue: The organization wants the consumer to sustain in the same product, so they start to reduce the price and increase the revenue.
• Focus on the long run profits: A firm mainly focuses on the goal to achieve long run success.
The business strategies that mainly concentrate on marketing efforts that indicate the consumer needs, and crafting an arrangement for satisfying the needs, is called as consumer orientation.
Conditions in market place:
The following are the consumer orientation needs after World War II:
• Producing more consumer products: The organization starts to produce more products, as per the requirement of consumers.
• Satisfying the consumer wants: In order to attract and retain the consumers, the organization should be able to satisfy the customers.
• Cutting the price and raising the revenue: The organization wants the consumer to sustain in the same product, so they start to reduce the price and increase the revenue.
• Focus on the long run profits: A firm mainly focuses on the goal to achieve long run success.
Contemporary Marketing 15th Edition by Louis Boone, David Kurtz
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