ENTREPRENEURIAL OPPORTUNITIES
MARKET RESEARCH
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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What is meant by product-oriented business?
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A business whose main focus of activity is on the products itself.
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A business which carries out market research to find out consumer wants before a product is developed and produced.
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Either A or B
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None of the above
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Explanation:
Detailed explanation-1: -Product orientation is a marketing management concept that aims to generate sales and meet organisational goals by focusing on creating high-quality products. A company applying this business method aims to produce affordable goods in the shortest interval possible.
Detailed explanation-2: -Product orientation is a business approach that focuses on a company’s products to represent the brand. It’s a type of market orientation, which is when companies emphasize consumer needs over other priorities.
There is 1 question to complete.