When a company creates a new market by understanding its competitors and listening to the market, it is called __________________.
A) International orientation
B) Market share optimization
C) Competitor orientation
D) Customer orientation
E) Operations management

Question

Quizplus · Accepted Answer

When a company understands its competitors and listens to the market, it is adopting a customer orientation approach to new market creation. This involves identifying the needs and preferences of potential customers and tailoring products or services to meet those needs, rather than simply focusing on maximizing market share or optimizing operations. A customer orientation approach can help companies create new markets based on customer demand, which can be more sustainable and profitable in the long run.

When a Company Creates a New Market by Understanding Its