A view of the market that specifies that planning starts by identifying the needs of target customers, to which the company responds by organizing a chain of resources and activities with the goal of creating customer value is a(n) ________ view.
A) make-and-sell
B) identify-and-target
C) purchase-produce-and-consume
D) market-and-profit
E) sense-and-respond

Question

Quizplus · Accepted Answer

The view described in the question is known as a "sense-and-respond" view, as it emphasizes the importance of understanding customer needs and creating value for them through a well-organized chain of resources and activities. This approach contrasts with the "make-and-sell" view, which focuses more on producing goods and then trying to sell them to customers, and the "identify-and-target" view, which simply involves identifying potential customers and creating marketing campaigns to reach them. The "purchase-produce-and-consume" view is not a commonly recognized term in marketing, and the "market-and-profit" view is too broad to accurately describe a specific approach to planning.

A View of the Market That Specifies That Planning Starts