A. concentration segmentation
B. market concept
C. consumer orientation
D. market penetration
Correct Answer:
Option A – concentration segmentation
Explanation
The Marketing Concept: The marketing concept is the philosophy that firms should analyze the needs of their customers and then make decisions to satisfy those needs, better than the competition.
Market penetration is a measure of the amount of sales or adoption of a product or service compared to the total theoretical market for that product or service. In addition, market penetration can also include the activities that are used to increase the market share of a particular product or service.
The purpose of segmentation is the concentration of marketing energy and force on the subdivision (or the market segment) to gain a competitive advantage within the segment.
Consumer orientation: A business philosophy of a company which emphasizes the provision of GOODS and SERVICES that have been specially designed to satisfy the needs of its customers.
