A market-oriented approach, also known as market-centric or customer-oriented, is characterized by a strong focus on understanding and meeting the needs of the market or target customers. In this approach, the business conducts thorough market research to identify customer preferences, demands, and trends. The organization then adapts its products, services, and strategies to align with the identified market needs. Customer satisfaction and building long-term relationships are key priorities in a market-oriented approach.
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