How Does the Market-Based Approach Differ from Other Approaches?
The market-based approach differs from other strategic approaches, such as the product-centric approach or the sales-driven approach, in its primary focus. While a product-centric approach emphasizes creating superior products and a sales-driven approach focuses on maximizing sales, the market-based approach centers on understanding and responding to market dynamics. This ensures that business strategies are aligned with real-time market conditions and customer preferences.