eshal

Please provide the details of the Market-oriented approach as a perspective of innovation?

Hi all, need help!!!!!! Define the Market-oriented innovation perspective?
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kaijiang
"Market-oriented: The market-oriented approach views “innovation” purely from a marketers’ perspective, in the sense that a product is regarded as “new”, depending on how much exposure the consumers’ have about the new product or service offering, and the total sales penetration that has occurred in the specified short period of time. - the product is regarded “new” if the market does not have much exposure of it. - sales penetration has been low. Here again, there can be two bases that underlie a market-oriented definition; viz., i) a product or service offering is regarded as “new”, if it has been in the market for a short period of time. ii) it is “new”, if it has been purchased/used/consumed by a small portion of the total potential market. Source: http://in.docsity.com/en-docs/Diffusion_of_Innovation_-_Consumer_Behavior_-_Solved_Quiz_"
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sachinii
A marketing orientated approach means a business reacts to what customers want.
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