Which of the following marketing orientations holds that achieving organizational goals depends on knowing the needs and wants o
f target markets and delivering the desired satisfactions better than competitors do? the societal marketing concept the marketing concept the production concept the product concept the selling concept
Marketing concept is a marketing style in which the realization of the organization goals is directly related to knowing the needs and wants of the target markets and delivering the desired satisfactions better than competitors.
The organization utilizes market data to develop a strategy that is able to maintain a balance between satisfying the customer's need and achieving its own goals.
As explained by Adam smith a market economy in his wealth of nations. Which is an interplay of the supply and demand, where the role of the customer's producers and the worker's investors and the borrows all follow the economic system and the market as an invisible hand, that comes from the producers and he consumers interact indirectly and directly
As the consumer and producers engage in commercial production thus the idea of a free-market took place. The government interferes with the services where unwanted shortages and the surplus tends to occur.
The free markets to regulate themselves by means of competition, among the workers and the borrowers.
