Product Orientation VS Market Orientation (With Real World Examples) | From A Business Professor

For years, Tesla CEO Elon Musk claimed that he despises marketing. Instead, Tesla uses money that other automakers spend on marketing or advertising to improve their products. In contrast, as one of the world's most valuable sports equipment brands, Nike spends a huge amount of money on marketing and advertising each year. Both Tesla and Nike are indisputable leaders in their representative industries, but they represent two different business approaches: product orientation and market orientation, to sell their products and develop their organizations. In this video, I will introduce both market and product orientations with their advantages, disadvantages, and real-world examples. I will also discuss the major differences between them, and factors companies need to be concerned about regarding which strategy they should focus on.