Which strategy aims at fulfilling unmet consumer needs as a priority in product design?

Study for the UofT MGT100 Fundamentals of Management Exam. Practice with quizzes and detailed study materials to excel. Prepare with clear explanations and valuable tips to ace your exam!

The strategy that focuses on fulfilling unmet consumer needs as a priority in product design is consumer orientation. This approach emphasizes understanding and addressing the specific desires and requirements of consumers in the development and improvement of products. By prioritizing the needs of consumers, businesses can create offerings that resonate well with their target audience, ultimately leading to higher customer satisfaction and loyalty.

Consumer orientation goes beyond simply marketing to existing customers; it involves deep research into market trends, consumer behaviors, and feedback to ensure that product designs are directly aligned with what consumers are seeking. It encourages an ongoing dialogue between the company and its customers, enabling a better response to evolving needs and preferences.

In contrast, market penetration mainly focuses on increasing sales of existing products in current markets, while product differentiation emphasizes creating unique offerings to stand out from competitors. Cost leadership is about achieving the lowest operational costs to price products competitively. None of these strategies prioritize the direct fulfillment of consumer needs in the same way that consumer orientation does.

Subscribe

Get the latest from Examzify

You can unsubscribe at any time. Read our privacy policy