Explain the differences among a product-oriented firm, a ...

[Chloeellawright]

Explain the differences among a product-oriented firm, a production-oriented firm, and a marketing-oriented firm and the role business research plays in each.

Question 2

Which currency is most accepted worldwide?
 a. The euro
  b. The U.S. dollar
  c. The Japanese yen
  d. The British Pound

[mariahkathleeen]

Answer to Question 1

A product-oriented firm prioritizes decision making in a way that emphasizes technical superiority in the product. A production-oriented firm prioritizes efficiency and effectiveness of the production processes in making decisions. In both of these orientations, research may take a backseat. In contrast, research is a primary tool enabling implementation of a marketing orientation. A marketing-oriented focuses more on how the firm provides value to customers than on the physical product or production process. With a marketing-oriented organization the majority of research focuses on the customer.

Answer to Question 2

B