Market Orientation of product is methodology or philosophy about business, that focuses on identifying and meeting the need of the existing customers or the hidden of potential customers.
producers need to be considering about the market positioning:
1. The target consumers of your products.
2. The competitor’s products.
3. How the product’s market prospect.
4. How the products can be quickly expanded reproduction.
5. The production technology of product is not easy to imitate by the competitors.
6. Whether your products have better brand awareness and image.
The producers compared their products with other competitor’s products at:
1. What is the competition advantage of your products.
2. Your advantage of your products is better than the competitor.
3. Whether your products can meet the needs of the consumers.
4. Your products are more attractive to consumers.
On the other hand, an over-emphasis on focuses on existing products and market needs can also have significant drawbacks. The major drawback is that you may lose focuses on innovation and lose focus on longer-term strategic planning. The successful market orientation is to balance the focuses on identifying and meeting the need of customer with a long-term strategic perspective.
http://www.easy-marketing-strategies.com/market-orientation.html
Categories: