Question

Widget Corp. has launched a new range of smart bulbs with enhanced features. Before developing the product, Widget Corp. conducted a thorough research about customer requirements. The company also studied the quality of its competitors' smart bulbs. Based on these insights, we can conclude that Widget Corp. designed smart bulbs that it feels can be clearly distinguished from other brands. Widget Corp. most likely has a _____. a. sales orientation b. production orientation c. promotional orientation d. market orientation

Answer 1

Answer:

Widget Corp. most likely has a;

d. market orientation

Explanation:

In a competitive market, companies need to be more vigilant to have a large share of the market since there are many companies that are also fighting for the same market share. There are different strategies that can be used to achieve a higher market share, namely;

1. Market orientation: as the name suggests, this strategy aims at putting the business in the direction of the market. In simpler terms, it involves assessing customer and market needs then producing products that fit or satisfy the customer needs. In our case, Widget Corp. after studying the market determined that the current bulbs in the market did not meet customer needs as most customers needed smart bulbs. By designing smart bulbs to align with market needs, Widget Corp gained a market orientation.

2. Sales orientation: sales orientation is a set of business strategy that aims as persuading more people to buy than product rather than meeting customer needs. More emphasis is put on the forces that drive sales like advertising and marketing.

3. Production orientation: is all the activities aimed at building the product value as opposed to what the customer needs.

4. Promotional orientation:promotional orientation aims to grow and advance the product.