Marketing Orientation And Product Orientation

To define customer orientation in respect to the philosophy underlying The Marketing Concept (May, 2014) is to

The main thing behind marketing in a business is finding the customer’s needs and produce the product/ services to satisfy their needs, this way the customer can choose what they would want included in their product/ service. A business that follows this rule is market-orientated.

In today’s competitive business environment, the prime objective of any firm is to gain the profit and to achieve its goals successfully (Sokolowski, 2013). For this, companies focus on the market orientation to have the clear picture about the market and strategies that can increase its customer base and help to achieve its objectives. But, there are different types of factors like PESTEL and marketing myopia, which affect their objectives and the business growth of the company. In this report, the implementation market orientation of Blockbuster is discussed which helped Blockbuster to achieve its strategic goals (Hutt and Speh, 2012). Additionally, how badly it coasted blockbuster, failure to implement these framework and objectives.

1. Marketing is: a) About invention of new markets, new products and new services b) About the invention of new ways of distributing and reaching customers c) About researching, finding, understanding and making new markets d) About creating and changing market processes that change markets e) All of the above 2. A responsibility of marketers is to sell new products and ideas to decision-makers in their organization. a) Yes b) No 3. The focus of companies needs to be on winning: a) The product innovation race b) The distribution innovation race c) Both a and b d) Either a or b e) None of the above 4. There are times when it helps for a marketing executive to support the status quo and to promote long established and

Today’s competitive market requires modern businesses to expand and explore marketing techniques on a lengthened scale. Market orientation has proved to be a main marketing concept that may ensure success in both the fields of consumers and competitors when rightly used. FarmDrop is a contemporary business exemplar that utilises market orientation to sustain and continually grow the company’s initiatives. The importance of market orientation lies in the necessity of being an organisation wide awareness in three different branches. In order to understand the implementation and dissemination of market orientation, the definitions of basic concepts of market orientation, competitor advantage and interfunctional coordination are given. Important questions such as the influence of this new market and a suggestion of further steps have also been discussed.

The purpose of this essay is to compare and contrast selling orientation and content marketing. Selling Orientation is an organizational operating structure which focuses on the needs that are required for selling to the market. The company is centered on selling efficiency rather than customer needs and wants. Content marketing is a strategic marketing approach focused on creating and distributing valuable, relevant, and consistent content to attract and retain a clearly-defined audience — and, ultimately, to drive profitable customer action.

According to Voon (2006), the organization who has provide services without doing much research through market orientation has less impact on customer satisfaction and customer loyalty as compare to the organizations who provides service-driven market orientation. Another researcher also deduce that the there is always very strong relationship between market orientation and service quality. The company which provides their services to the customers after doing proper market orientation, their performance in the market will improve and the company earns huge reputation among the

There are two main approaches that are used by companies: the Marketing approach, named 4Ps (Product, Price, Promotion, and Place) and the Value approach (creating, exchanging, Communicating, and Delivering). The first target accent on the product and the second target the customer. The advancement of technology has changed the way to promote products. There has been a shift from a traditional approach where the product was showcased to a new approach centered on the customer and his needs. For some companies it is imperative to focus more on the consumer seeking to understand his behavior towards new products to better conquer the market.

Recently interest in marketing area increase tremendously and this interest has deeply happened because ‘marketing’ term became popular and development rapidly (Esteban et al., 2002). In this review the focus is on two areas of marketing which are market orientation and relationship marketing. Market orientation is a mean for constructing relationship and communication knowledge with customers in terms of satisfying customers and make them loyal (Balarabe, Gambo kk, 2014). On the other hand there is another strategy, which is customer relationship that consider about relationship between customers and organizations in log-term (Tareg, 2012). In case of hotel industry marketing tool can be useful and relevant to attract tourists to a destination (ibid). This review, firstly the definition and various aspects of the theories will be considered. Secondly a discussion about applying these theories in hotel industry and how they work and finally conclusion.

Thus, firms that have a Market Orientation understand the importance of utilizing information about both customers and competitors when developing strategy. These firms can utilize knowledge about their competitors (e.g. product, prices and strategies) and knowledge about a customer segment to produce a market offering for a certain segment more efficiently and effectively than their competition (Glazer 1991). The factor that determines the degree to which Market Orientation allows a firm to develop competitive advantage is the degree to which having a Market Orientation is unique, or rare, among competitors. Studies suggest that, indeed, a market Orientation is rare (Jaworski and Kohli 1993; Narver and Slater 1990). In addition, research suggests that market orientation contributes not only to competitive advantage, but also sustainable competitive advantage (Hunt and Morgan 1995).

ADOPTING A MARKETING APPROACH - There are two main marketing approaches that businesses use; Product Oriented and Customer Oriented. The product-oriented approach focuses on the product and not the market. It does not take into consideration the views/opinions of the customers. The company may believe that their product is the best on the market, seeing no need for further changes or improvements.

Marketing can be define as “the process of creating, distributing, promotion and pricing goods, services and ideas to facilitate satisfying exchange relationships with customers in a dynamic environment” (Pride et al. 2007). Marketing concept shows an organisation always try to provide goods and services to satisfy consumers’ needs and wants. It may help the organisation to achieve their goals. The evolution of marketing concept is from production orientation to sales orientation, continuously it becomes market orientation and societal market orientation (Pride et al. 2007). So, the purpose of this essay is to discuss what market orientation is and whether market orientation is sufficient for business success in the business world. This

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

How service firms use market orientation has attracted great attention in innovation literature (Agarwal et al. 2003; Manzano et al. 2005). Market orientation refers to ‘‘the organizational culture that most

Market orientation a term used by marketers as indicator of the degree to which firm implements its marketing concept (Komppula and Reijonen, 2010). A market oriented firm has a greater ability in achieving higher performance compared to non-market oriented firm (Agarwal et al., 2003). The concept of market orientation has received a great deal of consideration since the topic was re-introduced by Kohli and Jaworski (1990) and Narver and Slater (1990). The relationship between market orientation and firm performance is extensively highlighted and contended that