Market Oriented And Product Oriented Businesses Essay

10. Conducting a Market Opportunity Analysis (MOA) is the first step in developing a marketing strategy.

MARKET ORIENTATED APPROACH – When the business is more likely to succeed but it requires more extensive market research as they produce goods and services based on what consumers/customers want. POSITIVE: Meets demand of consumers

The information that a business has about their paying customers must be kept secure, with the goal that any individual who isn't intended to see it doesn't see it. The individuals from staff who are higher up in the systematic administrators for instance will have pick what different individuals from staff are permitted to see certain bits of information for security

3. VISION: Cocoa delights will become a national retail brand within next five years that satisfies our customers with a range of unique, high quality dark chocolate, as well as providing exceptional customer service from our highly skilled and dedicated staff.

“Companies with a marketing orientation focus on customer needs as the primary drivers of organizational performance”

1. What factors contribute to the rapid pace of change in business? Is the pace likely to accelerate or decrease over the next decade? Why?

To put it simply, Choffy is brewed chocolate. Cocoa beans are roasted and ground to create an alleged long-last energy and wellness drink. Choffy’s website (www.choffy.com) provides more information about the product and the company’s expansion.

A market orientated company is one that organizes its activities, products and services around the needs and requirements of its customers. Burton Snowboards use market orientation because it is Customer focused. Jake Burton creates Burton Snowboards for the love of the sport. He practically invented snowboarding and transforms it to a world-class sport. The company focused in riders for its products developments and always wanting feedbacks from them to satisfy customer's needs and wants.

Business plays a major role within our society. It is a creative and competitive activity that continuously contributes to the shaping of our society. By satisfying the needs and wants people cannot satisfy themselves, businesses improve the quality of life for people and create a higher standard of living.

The first to market business model can arguably fit into any of the other business models. A freelancer can create a new technique and test it on the market. The solution, and specialization business model are also often considered the same as the first to market model. Yet again, I classify this as a unique model of its own because of the increased risk involved.

Marketing is an essentially about marshalling the resources of the organization so that they can meet the changing needs of the customers on whom the organization depends. As a verb, marketing is all about how an organization addresses its markets. Marketing is “The management process which identifies, anticipates and supplies the customer requirements efficiently and profitability”.

own. She wants to start a business as a Sole Trader and set up a local

In today’s modern era, the world is moving faster than ever, every organization is running a race of gaining maximum market share, and so as the customers, for their organization’s long-term growth but only those companies who transform themselves according to the need and requirement of the customers are able to achieve success and profit they desire and that’s what exactly said by Theodore Levitt (Head of the Marketing area at the Harvard Business School) in his article “The Marketing Imagination”.

What is a product oriented approach? Product oriented approach is a business strategy that focuses on its product and on the skills, knowledge and systems that support that product. How about Market Oriented approach in business? Market oriented approach is one that organizes its activities, products and services around the wants and needs of its customers. This paper will focus about the advantages of product oriented approach against market oriented businesses, so here are some points that will convince you to use product oriented strategy than market oriented. First point, A product-oriented approach to business focuses on building a superior product or service, which will pull customers to you

For week nine we discussed chapter eight, the “Developing Business Strategies” PowerPoint, and got back our exams for review. Chapter eight revolves around developing marketing strategies. Some of the basic strategies for successful marketing revolve around: