Production orientation is a marketing strategy in which the company focuses on products rather than customers' wants or desires. Two other types of strategies include market orientation and sales orientation.Know More
"If you build it, they will come" is the simple philosophy of companies that abide by a philosophy of production orientation. This philosophy discounts the wants and needs of the customers. Rather, the company chooses to focus all of its resources on how to efficiently build a product that is better than that of any of its competitors.
Companies that abide by this strategy put other marketing strategies on the back burner. For example, a common belief is that funds do not need to be put into advertising, because the quality of the products is so high that the products will easily sell themselves. Sales calls and other marketing ploys are not deemed as important as the overall quality of the product.
This is directly opposite of the strategies in a market or sales orientation philosophy. Companies that abide by a market orientation philosophy actually try to identify and then meet the stated or hidden needs of the customers. Those companies that practice a sales orientation philosophy concentrate funds into promoting sales of the product, either through sales calls or other marketing and advertising strategies.Learn more about Managing a Business
Medical practices within the United States that purchase devices for use within their offices do not need to register said devices, as the registration of devices is only required of "establishments that are involved in the production and distribution of medical devices intended for commercial distribution," as reported by the U.S. Food and Drug Administration. Examples of establishments that need to register devices include contract manufacturers, contract sterilizers, initial importers, manufacturers of accessories or components of medical devices, manufacturers of custom devices and relabelers or repackagers.Full Answer >
When a company is making a make or buy decision, the qualitative factors it must consider include the lives of the employees who would be let go if the product was outsourced, the time constraints involved in getting outsourced products delivered and whether or not an outsourced product would be up to the company's standards. Almost all manufacturing companies have to deal with make or buy decisions for products.Full Answer >
The information systems strategy triangle includes business, organization and information strategy, and it symbolizes how a company must align all three of these strategies together to use information systems for the company's benefit. When implementing an information system, a company must consider its goals, place in the market, its organizational culture and its business processes.Full Answer >
The advantages of a holding company are protection from losses, limited legal liability and the potential to limit tax liability, according to Investopedia. Disadvantages include limited knowledge of subsidiary operations and industries, conflicts of interest among shareholders and owning unprofitable assets and lines of business, explains Shaa Hudson for the Houston Chronicle.Full Answer >