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Summary Activity 4.1.2 Answers
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Activity 4.1.2 Answers for IBM Textbook with ISBN 4
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Activity 4.1.2 – The Classic Watch Company1. Define the term “market oriented”.
Market-oriented is an approach when a company focuses on designing its products
and services to satisfy customers’ needs so as to make profit.
2. Outline why the Classic Watch Company seems to have a product-oriented
approach to marketing.
Classic Watch Company offers products that are not based on the customers’ needs
but more keeping their products as their original design, which is “simple, robust
design and good value.”
3. Explain two problems the Classic Watch Company faces by using a product-
oriented approach to marketing.
One problem the company could face when using a product-oriented approach to
marketing would be having a more difficult time to attract consumers as they do not
prioritize on satisfying the customers’ needs. This can be seen as a problem as less
customers would mean less sales and profit, risking the financial status of the
company.
Another problem would be its flexibility to change and accept suggestions from
customers. As a company that focuses on producing products based on the values of
the company than prioritizing the customers, Classic Watch Company may have
some difficulties adapting to the changing market. This is because they are used to
creating products that they think are best, whereas the constantly changing market
always readjust the trends and taste of the consumers.
4. Analyze two changes the Classic Watch Company would need to make to become a
market-oriented business.
One way in which Classic Watch Company could do to become a market-oriented
business is to conduct market research or surveys to identify and get an idea of the
consumers’ taste or needs. By doing this, they can understand the customers more
and their behavior. Secondly, Classic Watch Company should design their products
based on the result obtained for conducting the market research or survey. Though
the product may not be desirable to the internal stakeholders, as long as it aligns
with the market research result, it should be able to satisfy the customers.
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