BUISENESS MANAGEMENT
MARKET RESEARCH
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Produce a product then try to convince people to buy it.
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Perform market research to discover consumer needs and wants then develop a product that meets their needs and wants.
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A business that markets their products to a mass market
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A business that markets their products to a niche market
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Detailed explanation-1: -Market orientation is an approach to business that prioritizes identifying the needs and desires of consumers and creating products and services that satisfy them.
Detailed explanation-2: -Use market research reports, focus groups and market surveys. Take the time too really get to know them. Ask the right questions; get the facts; and discover how to motivate your customers. We are motivated by two things, praise or reward.
Detailed explanation-3: -Market research (or marketing research) is any set of techniques used to gather information and better understand a company’s target market. Businesses use this information to design better products, improve user experience, and craft a marketing strategy that attracts quality leads and improves conversion rates.