Supply exceeded demand; products could be differentiated from each other; and producers determined different consumer wants and needs. This statement most likely refers to which era in business history?
A)industrial revolution
B)production
C)marketing concept
D)sales

Question

Quizplus · Accepted Answer

The marketing concept era is characterized by a focus on identifying and satisfying customer needs and wants, rather than simply producing and selling as much as possible. This era recognizes the importance of market research and differentiation in order to appeal to specific target markets. The other eras listed (industrial revolution, production, and sales) all focus more on the production and sale of goods rather than tailoring products to specific consumer demands.

Supply Exceeded Demand; Products Could Be Differentiated from Each Other;