BUISENESS MANAGEMENT
MARKET RESEARCH
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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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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Detailed explanation-1: -What is product orientation? 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: -Where the business develops products based on what it is good at making or doing, rather than what a customer wants.
Detailed explanation-3: -Meaning of product orientation in English an approach to business that emphasizes the importance of having a good product and production process: In the post-industrial information age, the focus of companies has shifted from product orientation to an orientation towards knowledge.
Detailed explanation-4: -Market orientation is a strategic focus on identifying consumer needs and desires in order to define new products to be developed.
Detailed explanation-5: -Examples of product-oriented companies Some examples of mostly product-oriented companies include: Apple – a company famous for envisioning products before consumers knew they needed them. Apple relies on quality and innovation to enter new markets and create demand with products such as the iPod, iPhone, and iPad.