Advantages of Market Orientation
 This approach aims to provide customers
with what they want by carrying out
extensive market research.
 Decisions are based around the
information about customer needs
therefore it is likely to create a brand
loyalty.
 These firms will be able to quickly
respond to the changing demand of the
customers.
Advantages of Product Orientation
 In this approach businesses develop
products based on what they are good at
making and their strengths.
 The product is likely to be technically
superior or of high quality due to
extension product research.
Disadvantages of Market Orientation
 It requires heavy investment in market
research, this can be costly.
 It is also costly to constantly change the
product or service according to changes
in taste and preferences of the
consumer.
 There may be insufficient focus on the
product.
Disadvantages of Product Orientation
 These businesses often fail to understand
the needs of their customers in an
increasingly competitive market.
 The cost of research and development on
the product is often high.
 Firms may miss opportunities due to
insufficient customer research.