After change in government policy, it is necessary for firms to adapt to the market orientation technique.

True

Right on! Give the BNAT exam to get a 100% scholarship for BYJUS courses

False

No worries! We‘ve got your back. Try BYJU‘S free classes today!

Open in App

Solution

The correct option is A
True

True. It is so because, due to increasing competition and more demanding customers, it becomes necessary for firms to understnad and analyse the market first and then produce goods according to the customers' preferences.

Suggest Corrections

Similar questions

Which of the following does not explain the impact of government policy changes on business and industry?

(a) More demanding customers

(b) Increasing competition

(d) Market orientation

Government of India is seriously thinking to allow oil marketing public sector undertakings to fix their own price for petrol and diesel. Which economic reform is the reason of the change in the government policy?

State True or False. The fire insurance policy is for a period of one year. After which it does not have to be renewed.

Q. The British government was forced to change its policies and make the rules more strict, after the Kumaon rebellion.

Q. After Independence, the government of India adopted the policy of shielding domestic markets from international influence.

Join BYJU'S Learning Program

After change in government policy, it is necessary for firms to adapt to the market orientation technique.

The correct option is A True True. It is so because, due to increasing competition and more demanding customers, it becomes necessary for firms to understnad and analyse the market first and then produce goods according to the customers' preferences.

The correct option is A
True

True. It is so because, due to increasing competition and more demanding customers, it becomes necessary for firms to understnad and analyse the market first and then produce goods according to the customers' preferences.