Product and Market Orientation

• what is product orientation?


  Focusing on the features and qualities of a product rather than customer needs or wants.
• what is market orientation?


  when a business designs and develops products based on customers needs and wants.
• advantages of product orientation

  • can give competitive edge
  • lead to development of highly innovative new products
• disadvantages of product orientation

  • high risk
  • assumption of customer demand
  • limited customer input
• advantages of market orientation

  • less risky
  • product will meet customer needs
• disadvantages of market orientation

  • high costs
  • lots of time spent on market research