Assignment on Ben Sherman Case Study

3244 WordsNov 5, 201313 Pages
TABLE OF CONTENTS INTRODUCTION............................................................................................................2 MARKET SEGMENTATION………………………………………………………..2-3 YOUNG GENERATION AS A MAIN TARGET MARKET………………………….4 PRODUCT AND MARKET ORIENTATION…………………………………………5 RELATION BETWEEN PRODUCT AND MARKET ORIENTATION……………..6 MARKET AND PRODUCT ORIENTATION IN BEN SHERMAN………………….7 LIFE CYCLE EXTENSION………………………………………………………..7-10 MARKETING RESEARCH…………………………………………………………..10 APPROACHES OF MARKETING RESEARCH…………………………………10-14 MARKETING COMMUNICATION COMPAIGN……………………………….14-15 CONCLUSION………………………………………………………………………...16 REFERENCES………………………………………………………………………...17 INTRODUCTION There are many…show more content…
The basic focus under product orientation is to produce maximum products at a minimum price. This technique has a major disadvantage that the product might not be very successful in a well established market. As an investment point of view product orientation technique is a cheaper option. Similarly market orientation has its pros and cons. It is very responsive to the market demand which results in a constant improvement in the organizational performance. Most markets are preferring the market oriented approach because it has more knowledge of the market and knows what exactly customers want otherwise the business might lose its high revenue. A disadvantage is that it has a high cost involved because of continuous research and advertising cost.( Kottler ,journal of marketing,jan 1994) RELATION BETWEEN PRODUCT ORIENTATION AND MARKET ORIENTATION. Numerous researches show that there is actually a deep relation between product and market orientation. In order for a product to become successful in reality it has to be according to the needs of customer and to find out what the customers want business has to obtain the knowledge of customers needs which can only be achieved by the market research. Therefore there is an inter link between product orientation and market orientation. Until the late 20th century many industries used to follow the product orientation approach which later proved to be unsuccessful
Open Document