A _____ orientation apart from understanding customers,stresses the need to monitor and understand competitor actions in the marketplace and the need to communicate information about customers and competitors throughout the organization.
A) consumer
B) product
C) production
D) market
E) stakeholder

Question

Quizplus · Accepted Answer

A market orientation involves understanding and satisfying the needs and wants of customers, as well as monitoring and adapting to changes in the competitive environment. This includes gathering and sharing information about customers and competitors throughout the organization to inform decision-making and improve performance. Consumer orientation (A) is a component of market orientation that emphasizes understanding the needs and preferences of individual customers. Product orientation (B) prioritizes the development and improvement of the company's products or services over other factors, while production orientation (C) focuses on the efficient and cost-effective production of goods or services regardless of customer demand. Stakeholder orientation (E) expands the focus beyond customers and competitors to consider the needs and interests of all stakeholders, such as employees, suppliers, and communities. While important, this broader approach is not synonymous with a market orientation.

A _____ Orientation Apart from Understanding Customers,stresses the Need to Monitor