A market orientation is an orientation wherein innovation is geared primarily toward making the production process as efficient and economical as possible.

Question

Quizplus · Accepted Answer

A market orientation is actually geared toward understanding and meeting the needs and wants of customers through research and development of products and services. It emphasizes customer satisfaction and creating value for the customer. Efficiency and economy are still important considerations, but they are secondary to meeting the needs of the customer.

A Market Orientation Is an Orientation Wherein Innovation Is Geared