2. Advantages of Market Orientation

Pros- Mass production, economies of scale advantage, lower prices of goods
Cons- Customer needs ignored, Quality aspect ignored, sometimes initial costs are high 
Societal Orientation
Societal Orientation is a rather new concept. As people are learning more about how the society operates, what it offers, the world that we live in and many other aspects, they are increasingly switching to a societal marketing oriented approach. 
Organizations are following a new philosophy which is environmentally related. An organization following this approach will plan its processes, products in such a manner that the impact it has on the society and where it operates remains friendly and positive. 
Mostly the pharmaceutical companies, chemical companies and science related industries opt for societal orientation. If we compare this orientation with the rest then it is obvious that it will be difficult for industries following societal approach to survive in the competitive market. Mostly for the MSME this approach can prove to be non-profitable.
Pros- helps in building brand value and image, ethical and environmentally friendly
Cons- less profitable, difficult to survive market competition, messages become distorted.

3. Market Orientation

Just like the name suggests, this marketing approach focuses on the market and the niche customers. Even before beginning the production and sales, priority is given to the market conditions and customers. 
The end product is created keeping in mind the customer and the result shows how important the customer is for such organizations. Organizations following the market orientation approach have properly organized internal teams and culture that focuses only on the customers of the company. 
It is evident that the latest innovations, technologies are also neglected if the customers do not want them. Nowadays, we can see the shift of many organizations towards the market orientation approach as buyers hold a lot of information about what they expect and what they want. 
In short, customers have become kings.