Which business approach focuses on creating better products at lower prices?

The product-oriented approach emphasizes the importance of designing and improving products to enhance their quality and functionality. This strategy focuses on the belief that a superior product will naturally attract customers, leading to increased sales. By prioritizing the creation of better products, businesses aim to establish themselves in a competitive market, often enabling them to offer these high-quality goods at lower prices due to economies of scale and efficient production processes.

In contrast, other approaches may prioritize different aspects of a business strategy. For example, a sales-oriented approach centers on aggressive sales tactics to promote existing products rather than improving product quality. A price-oriented approach is solely focused on price reduction and cost competitiveness, possibly at the expense of product quality. Lastly, a market-oriented approach emphasizes understanding and meeting customer needs, which can involve various strategies beyond just product improvement, such as customer service or marketing efforts rather than focusing strictly on the product itself.

Thus, the product-oriented approach distinctly aligns with the goal of creating better products at lower prices, allowing for a competitive advantage in quality and value.