ENTREPRENEURIAL OPPORTUNITIES
MARKET RESEARCH
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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A ____ business is one whose main focus of activity is on the product itself.
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Marketing budget
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Market-oriented
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Product-oriented
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Market research
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Explanation:
Detailed explanation-1: -A product-oriented business is one whose main focus of activity is on the product itself. A market-oriented business is one which carries out market research to find out consumer wants before a product is developed and produced.
Detailed explanation-2: -product orientation. focuses on what the firm can make instead of customers wants and needs. sales orientation. use aggressive sales tactics to sell more which will result in high profits. marketing concept.
Detailed explanation-3: -The market orientation approach emphasizes. Extensive promotional activities. Determining what customers want first and then producing it. Efficient production costs. Profits at the expense of customer satisfaction.
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