The Companyโs profits and losses are mainly depending on marketing skills. Many Companies manifest an interest in individuals who can speak and convince the customers and gives profit to the Company.
Key Takeaways
- A product orientation is a business strategy that focuses on creating and improving products, while market orientation is a business strategy that focuses on understanding and meeting customer needs.
- Product orientation assumes that if the product is good enough, customers will buy it, while market orientation focuses on creating products that meet customer needs and preferences.
- A product orientation is inward-looking, while a market orientation is outward-looking and focused on the external environment.
Product Orientation vs. Market Orientation
Product orientation focuses mainly on the creation or making of products. It also includes product improvement. High quality products are manufactured by companies in product orientation. The main focus of market orientation is to understand the needs or requirements of the customers. Market orientation is a culture related to business.
An individual can acquire skills in Orientation that helps to keep in a good position. Several Companies require the Orienteers for profits in their products. Product Orientation is one kind of orientation where the companies initially focus on Product quality alone.
On the Other hand, Market Orientation mainly focuses on business proposals to increase profits. Market Orientation Comprehends the perspectives like market intelligence, culture-based behavior, customer orientation, and strategic purpose.
Comparison Table
| Parameters of Comparison | Product Orientation | Market Orientation |
|---|---|---|
| Meaning | Product Orientation is one of the adaptations where companies focus on products. | Market Orientation allows focusing on business purposes. |
| Initiation | Production Orientation started in the middle of 1950 when the products were in a limited stage. | Market Orientation started in 1990 to get profits in business. |
| Focus | In Product Orientation, Companies manufacture quality and rate-fixing products that an individual can compare with other products. | Companies focus on design. Market Orientation directly moves to the customerโs needs to give the products. |
| Culture | It is a quality and rate fixing of product culture.ย ย ย ย ย ย ย ย | It Is a business culture. ย |
| Companies | Companies like Gillette, Coco-Cola, Travis Perkins, and many others follow the product Orientation. | Companies like Amazon, Starbucks Coffee, Singapore Airlines, and others come under Market Orientation. ย |
What is Product Orientation?
In the mid of 1950, during the Capitalism period, product orientation took place while the products were in limited stock. Product Orientation is one of the kinds of Orientation where the companies initially focus on Product quality alone.
Production Orientation started in the middle of 1950. Companies like Gillette, Coca-Cola, and Travel Perkins are some of the companies that go through Product Orientation. Several companies in the world check the product before releasing it.
A Company can gain profits based on the customerโs reviews of the productโs quality. In the present World, online reviews of customers can increase the Companyโs status.
What is Market Orientation?
There are 4 kinds of Orientations, and Market Orientation is one of the kinds. Market Orientation is the business type orientation where companies prefer the customerโs satisfaction.
It Is a business culture Orientation that focuses on peopleโs satisfaction. Companies that follow Market Orientation are Amazon, Starbucks Coffee, Singapore Airlines, and many others.
Market Orientation Comprehends the perspectives like market intelligence, culture-based behavior, customer orientation, and strategic purpose.
Main Differences Between Product Orientation and Market Orientationย ย ย
- Both Production Orientation and Market Orientation had some similarities. But, companies like Gillette, Coca-Cola, and Travis Perkins come under Product Orientation, where Companies like Amazon, Starbucks Coffee, Singapore Airlines, and many others come under Market Orientation.
- Product Orientation follows quality and rate fixing of product culture. On the other hand, Market Orientation is a business culture.
- https://www.jstor.org/stable/41064950
- https://www.sciencedirect.com/science/article/pii/0148296395000518
- https://www.ingentaconnect.com/content/westburn/tmr/2006/00000006/00000001/art00003
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Chara Yadav holds MBA in Finance. Her goal is to simplify finance-related topics. She has worked in finance for about 25 years. She has held multiple finance and banking classes for business schools and communities. Read more at her bio page.
