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The Complete Idiot's Guide to MBA Basics, 3rd Edition by Tom Gorman

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Marketing Basics

Like every area of business, marketing and sales have their own ways of describing things. In the rest of this chapter, we cover several major concepts in marketing and sales that are worth knowing.

Who Drives Your Company?

A market-driven company looks to the market—to groups of customers—to learn what it should be doing. A market-driven company listens to customers to learn why and how customers use what they sell. A market-driven firm watches trends in the marketplace in technology, pricing, packaging, and distribution (where and how it sells its products). It also watches competitors.
 
A customer-focused company also listens to customers for cues on what it should do. However, the term customer-focused emphasizes an ...

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