Responding to the current wants and needs of consumers is an example of what app

Question

Responding to the current wants and needs of consumers is an example of what approach to new product and service innovation?

Using an customer value co-creation strategy.

Using a market following instead of a market leading strategy.

Using a market driving approach to developing new products and services.

Using a market driven approach to developing new products and services.

Using an customer value co-creation strategy.

Using a market following instead of a market leading strategy.

Using a market driving approach to developing new products and services.

Using a market driven approach to developing new products and services.

Explanation / Answer

Answer: d) Using a market driven approach to devloping new products and services.

In this , a company produces product by reacting to the customers specific needs , want and desire in the marketplace . It establishes a better product positioning in the mind's of customers .

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