A product orientated firm, focuses on the product itself for example it may look at what is easiest to produce rather than customers needs.
Advantages of product orientation:
Disadvantages of product orientation:
A market orientated firm is one which concentrates on its market and continually identifies, reviews and analyses consumers needs e.g. the business will make the product available in quantities best suited to the consumer.
Advantages of market orientation:
Disadvantages of market orientation:
Asset led marketing takes the best from both product and market orientation. It doesn't only make decisions based on consumer needs but also product strengths. It uses the product name and brand image as a strength to market both new and existing products.