ENTREPRENEURIAL OPPORTUNITIES
MARKET RESEARCH
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Which of the following is an example of market orientation?
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A company creates a new product without considering customer needs
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Company conducts market research to identify customer needs and preferences before creating a new product
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A company relies on historical sales data to determine product features
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A company uses expert opinions to guide product development
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Explanation:
Detailed explanation-1: -Apple Computers, Starbucks Coffee, Virgin Group, L’Oreal, Louis Vuitton, Nike, Singapore Airlines, Banyan Tree and Samsung are among some of the most successful brands in the world.
Detailed explanation-2: -Answer & Solution In a Marketing orientation, the role of marketing research is to determine customer needs and how well the company is satisfying them. Production orientation follows the theory that any product of high quality can be readily sold.
There is 1 question to complete.