Market Orientation vs Product Orientation (Marketing) Flashcards
1
Q
Product orientation
A
Where a company focuses on making high-quality products and have product development as a priority rather than prioritizing customer needs or market demands with. It is based on the rationale that if a product is good enough, customers will buy it.
2
Q
Market Orientation
A
When a company focuses on understanding and meeting customer needs/preferences. It focuses on researching the market, adapting products or services based on customer feedback, and responding to competition to maximize customer satisfaction and business success.
