A business that focuses attention on the quality of the goods produced by precisely knowing what the consumers desire is said to be operation the

Answer Details

A business that focuses attention on the quality of the goods produced by precisely knowing what the consumers desire is said to be operating under the marketing concept. The marketing concept is a philosophy that businesses should focus on meeting the needs and wants of their customers, rather than just trying to sell as many products as possible. This means that the business will conduct market research to understand what consumers want and will use that information to guide their decision-making and production processes. The marketing concept is distinct from other business orientations, such as product orientation, which focuses on the quality of the product itself, or promotion mix, which focuses on how to best promote the product to consumers. The marketing concept takes a more holistic approach, considering both the needs of the customer and the quality of the product in order to create a successful business strategy.