ENTREPRENEURIAL OPPORTUNITIES
MARKET RESEARCH
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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What is product orientation?
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Focusing on the needs and preferences of specific customer groups
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Creating a product without considering customer needs
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Analysing market trends to guide product development
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Using expert opinions to guide product development
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Explanation:
Detailed explanation-1: -A company’s market orientation is its culture, which values meeting customer needs above everything else. As the name implies, “product orientation” is wholly focused on the quality of the product. With a customer-centric focus, or “market orientation, ‘’ businesses aim to meet the needs of their target demographic.
Detailed explanation-2: -Production orientation. chooses to ignore customer’s needs and focus only on efficiently building a quality product. Market orientation. focus primarily on meeting the wants and needs of their customer base. Production-oriented marketing strategy.
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