2. Advantages of Market Orientation

Examples of Market-Oriented Companies
Amazon consistently changes the virtual marketplace and adds features to address the concerns expressed by consumers. One such feature is the rating and review system introduced by the online retailer to boost credibility.
The company launched Amazon Prime to address issues with delivery charges. In addition, it created the Amazon Locker, which is a self-pickup service for consumers who may not be present in the shipping address indicated at the time of delivery.
Coca-Cola performs extensive research to come up with new flavors for its consumers. For users who are worried about sugar content, the company launched the zero-calorie Diet Coke and undertook several acquisitions of “healthy” brands, such as Dasani, etc.
Learn More
Thank you for reading CFI’s guide to Market Orientation. To keep learning and developing your knowledge of financial analysis, we highly recommend the additional CFI resources below:

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  Market Dynamics
  
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  Brand Strategy
  
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  Business Drivers
  
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  Value Proposition
  
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  See all management & strategy resources
  

Market orientation is an approach to business that prioritizes identifying the needs and desires of consumers and creating products and services that satisfy them. Companies that have a market orientation consider the opinions and needs of their target market as a critical component of their research and development (R&D) for new products.
It may sound obvious, but advocates of market orientation argue that the conventional approach to product development is the opposite. That is, marketing strategies focus on establishing key selling points to promote existing products rather than designing products that have the qualities consumers say they want.

Theme:Marketing and market orientation