Explain by giving any three points how ‘market-orientation’ helps… - Vidyadip

Question

Explain by giving any three points how ‘market-orientation’ helps the entrepreneurs.

✓

Answer

Market orientation helps the entrepreneur:

To understand the customers and their needs.
To develop and assist in the design of an appropriate product or service and selling the same.
To take the correct decision regarding the product or service, its-market and profitability of the enterprise.

Need a full question paper?

Generate a complete, print-ready paper with questions like this in minutes — across 16+ boards, with answer keys.

Start Generating Free

Explore more

More "3 Marks Question" from Enterprise Marketing→Enterprise Marketing — all question types→Entrepreneurship STD 12 Commerce question papers→CBSE Board STD 12 Commerce question papers→CBSE Board question paper generator→

Similar questions

Sanidhya is running a Stationery shop and sells variety of pens. His monthly consumption is ₹ 500 pens. Demand is uniform. Purchase cost of each pen is ₹ 12 per pen. Holding cost cost per annum is 20% of purchase cost. Ordering cost is ₹ 500 per order.

What should be the EOQ for the shopkeeper?
How many order is to be placed?

Rohit is working on designing of a unique face mask which would not only filter the air inhaled but also send alert messages on the registered mobile number if the user is in a zone of high pollution. This idea is germinated because of the interest and curiosity of Rohit as he is always interested in finding out the specific current problems and their solutions. Before launching his idea he also analysed the pros and cons of the product. Now he has to complete two more steps of an important process.
Identify the process. Explain the steps to be completed by Rohit in the process identified.

Comment on selection of Forms of business organisation.

Many times creative products and services are born as results of problem solving". Give examples.

How are ideas generated?

Twitter Tweets
Twitter-named after the sound of chirping birds in 2006, has today established itself as a cultural touchstone, growing from a few thousand geeky users to more than 200 million today.
Most of twitter's revenue comes from advertising. Research firm marketer estimates that Twitter will generate $ 582.8 million in worldwide ad revenue for 2013, up from $288.3 million in 2012.
Twitter's money making potential has minted the company with an estimated market value of $ 10 billion, based on the appraisals of venture capitalists and other early investors who have been helping to fund the business so far.
Aiming for a sustainable future, Twitter, as has been long expected, tweets 'It will go public'.
The law that allowed Twitter to file its initial IPO documents confidentially is called the Jumpstart Our Business Start-ups Act (JOBS) President Barack Obama signed the law in 2012. It is designed to make it easier for small businesses and startups to grow and create jobs. Do you understand the significance of all this........?
Going public could give Twitter the muscle to become the next facebook or Apple-says one analyst.
The capital gains from going public will likely allow the company to make solid investments across the board in hiring, operations and acquisition- that's the power of finance.

What is the full form of JOBS?
Which source of raising finance has been opted for, by Twitter?
Where will the company invest the funds so generated?

What is the need of financial management to an entrepreneur? Explain.

Frontier Biscuits is a premium bakery engaged in making high quality biscuits. Its 'Pista and Cashew biscuits are customers favourite. It costs ₹ 300 to make 1kg of the above biscuits and are sold @ ₹ 450 per kg. What is the value added from financial point of view?

Differentiate between:

Direct cost and Indirect cost.
Semi-variable cost and Variable cost.

Explain ‘ability to harness different sources of knowledge and information’ and ‘vision and creativity’ as important factors in sensing opportunities.