When the right combination of circumstances occurs at the right time to allow an organization to take action toward a target market, the firm is faced with a
A) market objective.
B) market requirement.
C) strategic market plan.
D) market opportunity.
E) corporate objective.

Question

Quizplus · Accepted Answer

When favorable conditions present themselves, such as a gap in the market or a shift in consumer preferences, an organization is presented with a market opportunity. This allows the company to take advantage of the circumstance by creating products or services to meet the needs of the target market. A market opportunity is not the same as a market requirement, which implies that a particular need must be met for a company to stay competitive. A strategic market plan is the company's roadmap for reaching a specific set of goals, and a market objective is a specific measurable target for achieving success. A corporate objective refers to the overall goals of the organization.

When the Right Combination of Circumstances Occurs at the Right