Principles Of Marketing
17th Edition
ISBN:9780134492513
Author:Kotler, Philip, Armstrong, Gary (gary M.)
Publisher:Kotler, Philip, Armstrong, Gary (gary M.)
Chapter1: Marketing: Creating Customer Value And Engagement
Section: Chapter Questions
Problem 1.1DQ
Related questions
Question
Explain how might inventory turnover shed light on an organization competitiveness and efficiency?
Expert Solution
Step 1
The organization's competitiveness is determined by its capabilities to provide the right quality and demanded product to the customers. On the other hand, organization's efficiency describes the effectiveness of the company to produce a quality product.
Competitiveness and efficiency determine the success and failure of a business in the long run. It provides an incentive to innovate, think creatively, and bring new ideas to fight rivals and attract customers to them.
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