Advantages of product oriented businesses
“Make it simple, make it memorable, make it inviting to look at.” (Leo Burnette)
Marketing strategies should revolve around the customers, making them the prior most strategy. Marketing strategies should be analyzed from time to time for the periodic relevance of the growth of business. The analysis of the marketing strategies predicts the orientation of the marketing strategies other than the customers.
Marketing concepts are 4 in total. Product orientation, sales orientation, production orientation and marketing orientation altogether constitute our marketing concepts. Among all these concepts, product oriented business revolves around the product and its features for the everlasting exploitation of the product.
Small businesses usually have everything to jeopardize. They have bet on whatever they had for the good and for the prevention of their net investment into thin air, it is necessary that they utilize one of the aforementioned concepts to tackle their marketing muddles. Product orientation is usually the criteria preferred by a number of small businesses.
There are many advantages as to why the small businesses usually choose product orientation concept. As I mentioned earlier, these businesses do not have much to lose (since they have very minimal of everything) hence, they try to focus on one central pivot which will be the result of proclamation of much of the revenue and ROI. The central pivotal point in all the businesses is the finale product. These smaller businesses, regardless of the prospect and perspective of market, can invest wholly into the product quality.
Another advantage of using product orientation is the introduction of a new technology whose mandatory presence hasn’t been created for the time, yet after its introduction, the technology may become mandatory if witnessed colossal success.
A third advantage of product oriented business is that product oriented business has its pivotal attention at the inventory of qualitative products. Product oriented businesses enable the mass production of the product with reduced rates. As, better the quality of the product, more purchases will be generated due to which greater production of the product can be proclaimed with comparatively lower cost.
Lastly, merchant business tycoons usually target solely on inferior companies with sound success for the purpose of privatization. Hence, newbie associations can coalesce with these merchant business tycoons if these merchant business tycoons produce such offers. This is an instant progress and success for the newbie business associations.
Product oriented businesses have their primal focus on the production of qualitative product. Once, the formulation of such product has been made, the company is most likely to face intimate success because of the permissible advantages of product oriented strategies.
“If you don’t have room to fail, you don’t have a way to grow.”
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