Marketing, for our purposes, is simply defined as understanding the customer’s needs and wants and designing and delivering products and services accordingly.
Participants ask, “What does the customer want?” first and then, “How do I deliver it?” Market Orientation simply means shifting the participants focus to customers. Instead of being oriented to their own perceived abilities (or lack of) participants will undertake a business venture according to customer demand. This is market orientation.
Value Enhancement is the process of continuously evolving new products and services to cater to customer needs and demand. By adding value to products according to the customers’ wants, entrepreneurs can serve specific market niches that larger producers cannot cater to.