A market-oriented organization believes that the social and economic justification for an organization's existence is the satisfaction of customer wants and needs while meeting organizational objectives.

TRUE

Explanation: Market-oriented organisations are organisations that believe in meeting the needs, wants and desires of customers and consumers through creating products and services that meets the requirements of the customers putting the objectives of the organisation in perspective.

most multi national organisations like Coca cola, Amazon, McDonald, Nestle all use market oriented approach, they strategically determine the needs of customers before designing products