Product and the Market. Products and the market Product orientated business =“A business which develops products with little or no market research and.

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Presentation transcript:

Product and the Market

Products and the market Product orientated business =“A business which develops products with little or no market research and which hopes it will be successful in the market”. In the 1960’s it was assumed Concorde would sell; it was technically advanced and fast! But did the consumer want it?

Product orientated products Segway Sinclair C5

Products and the market Market orientated business =“A business which develops products which have been researched and designed to meet the needs of consumers”. The iPod holds the biggest market share of MP3 players! Apple is very market driven!

Products and the market Asset orientated business =“A business which develops products which are based on its main strengths, concentrating on what the business is good at”. Mars Bars, Mars Drink, Mars Ice Cream. Mars is a strong BRAND

Products and the market Those companies who provide the customer with what they want, are the businesses that are better able to survive. These are Market orientated business. “Look after the customer and the business will take care of itself”. Ray Kroc McDonalds Founder