▶ Your Answer :
Some people think that company can produce much revenue by focusing on products than on the markets. However, in my opinion, corporations which pursue success should more concentrate on their markets since they can catch buyer’s needs, and it is tough to endure in the harsh business field. First of all, grasping consumer’s needs is key to success. To make sell, entrepreneurs need to read trend of their market. Usually, interests of consumer are fluctuating and unstable, so company should keep their eyes on their business area. For example, Nokia, once a leader of the mobile market, has been struggling to manage their business since they focused on production of their most popular goods, while rivals tried to grab consumer’s needs and make a new invention, which is now called smart phone. In the latest years, it has tried to catch up opponents, but it seems like fond hope that Nokia becomes a leader once again. To top of that, surviving in the rough economy environment is too hard by focusing on products. Generally, business focused on products means they can not make profits or little until their market becomes flourished. Company will go to suffer or, in severe case, it can fall down, if it has not a sturdy monetary background. For example, Black berry, which had their own unique design on mobile which attracted many consumers, had not followed the market. As a result, they have stopped yielding goods since consumer’s eyes turned to the smart phone. Even though it still has some patronages enticed their peculiar appearance, there is a limit to manage their business with them. In this regard, I strongly believed that business should be based on not a restricted factory, but a place where money flows and can get information of consumer’s inclination to achieve success, at least make margin. |