Question

Which of the following statements reflects the philosophy of the market-oriented era?A good product will sell itself.The customer is king.Firms should take advantage of a seller's market.Advertising and personal selling should be emphasized in order to make the sale.Firms should focus on value.

Answer 1

Answer:

The correct answer is letter "B": The customer is king.

Explanation:

Marketing has evolved along time. We can identify five (5) eras in the marketing evolution: The Production Era, The Product Era, The Selling Era, The Market-oriented Era, and The Holistic Era.  

In the Market-oriented Era (developed around the 50s) customers were the center of production. Companies focused their efforts to manufacture goods according to consumers' demands. Thus, a phrase such as:

"The customer is king";

would be typical of this marketing era.