MANAGEMENT

Detailed explanation-1: -A product-oriented company can save costs on market research and streamline the production process for its products or services. With a market-oriented approach, companies may be able to increase their customer satisfaction, which can lead to other benefits, like brand loyalty.

Detailed explanation-2: -Product orientation is an approach to business where the company is focused on developing products and services of the best or highest quality. Market-oriented companies are more focused on the wants and needs of customers in their market.

Detailed explanation-3: -Answer and Explanation: The correct answer is (3.) They assume that a sale does not depend on an aggressive sales force but rather on a customer’s decision to purchase a product. Market-oriented firms do not believe in aggressive sales as they have a constant focus on customers’ needs.

Detailed explanation-4: -In which kind of market would a production orientation be most successful? A seller’s market in which demand is greater than supply.