MARKET ORIENTATION Definition

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MARKET ORIENTATION is the business philosophy and approach to focusing on the customer's needs and wants, both stated and hidden, and satisfying them with proprietary or purchased products and services.

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AUCTION MARKET is a trading system in which buyers enter competitive bids and sellers enter competitive offers simultaneously. This, as opposed to the over-the-counter market, where trades are negotiated. Examples: the NYSE and the AMEX. It is sometimes called double auction market.

NET CURRENT ASSETS see WORKING CAPITAL.

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