Cultivating Market Orientation
Listening to Customers and Employees The key aspect of a market orientation is listening to customers by including their desires and concerns into the company’s decisions. While businesses have varying degrees of interaction with their customers, all create a product or service to market to a customer. Consequentially, this business orientation can lead to multiple benefits for an organization to include “increased customer satisfaction and loyalty, higher finical performance, and improved new product creativity” (Reed, Goolsby, & Johnston, 2016b, p. 3591). Ultimately, the goal of a market orientation is to gain a competitive advantage over competitors, A market orientation has been proven to lead to a higher
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However, Lings and Greenley suggest utilizing an internal market orientation to strengthen the organization’s overall market orientation (2010). An internal market orientation is “a philosophy of valuing and treating employees as an intermediate set of customers inside the firm and enhancing the value provided to employees with the aim of encouraging them to enact the organizations’ marketing objectives” (Lings & Greenley, 2010, p. 323). Thus, valuing employees and inculcating them with a customer orientation attitude improves the firm’s market orientation and overall competitive advantage. While current research linking internal marketing to a market orientation is limited, the general benefits of valuing and listening to customers can be directly attributed to a successful market orientation …show more content…
The span of control in an organization concerns the levels of management within an organization (Robbins& Judge, 2009). Therefore, an organization with a wide span of control means there are fewer higher level managers; instead, the organization has more employees and lower level management. This structure provides employees with more autonomy leading to more flexibility and empowerment of the employees. Additionally, a wide span of control places the organization closer to the customer, which allows the employees to gain greater insights into the customers’ concerns and desires.
Since an internal market orientation places great emphasis on the employees’ and values their opinions, a large amount of trust is implied between the employer and the employee (Larson & Sasser, 2000). Due to the high level of trust, an organization trusts its employees to handle greater levels of responsibility that are required with a wide span of control. A wider span of control is congruent with an internally focused orientation because it demonstrates trust and provides employees with meaningful
There are some limitations of internal controls. One is a person knowing the system. This person knows when everything is done and how it is done he or she can find a loophole and use it to his or her advantage. Another limitation is...
In conclusion, this organization should focus more on their employees and less on profitability. This reasoning comes from the idea that efficient and appreciated employees will dictate the future of an organization through their quality of work and their outlook on the company they work for. Implementing rewards for employees and showing appreciation towards them will make them feel honored to work for such a company. In addition, word of mouth from employees will dictate in the inflow of new or current customers. If employees are treated fairly and respectfully, they are more likely to recommend their place of employment for shoppers. Finally, the implementation of a hybrid culture will benefit the company by meeting the needs of the employer, employees and customers alike.
Nowadays businesses constantly look for affective ways to provide their goods in order to gain customer satisfaction and accomplish their needs. As an online business, marketing enables BOOHOO to use different methods of customer service that I will be evaluating. BOOHOO like any other businesses want to be able to provide faultless service to meet customer needs as this helps them gain more customers; retain customers, become bigger and better including improving business
Span and Control – This element pertains to such issues as the number of subordinates under the direct supervision of a manager. It is extremely important to take into consideration a larger pool of subordinates can equate to efficient cost, but to...
Recommendation of further research in the areas of the correlation of transformational leadership and employees’ customer orientation to examine whether organizational-level variables enhance customer orientation through the trickle-down process. Furthermore, the research did not highlight the four aspects- idealized influence, inspirational motivation, intellectual stimulation, and individual to transformational leadership as it impacts service industry (Northouse, 2001).
Employees are the frontline presence for the company and are typically the first contact that customers interact with. With a basic understanding of marketing concepts employees can come to work with a different mindset. Instead of just coming to work to perform a task, employee could come to work ready to promote and advance the company on top of their required work. Marketing can be both a beneficial and detrimental thing to a company, especially a university. If employees do not understand how marketing works, then they could be display bad attributes or detrimental information to the consumer without realizing it. Employee with an understanding of marketing have a better chance of pinpointing these bad points of performance and fixing them. When a company is seen in a bad light, marketers have the challenging job of changing that bad connation to a positive light. If employees understand marketing concepts and can help markets fix them then less money is spent on damage
Background: The authors Ravasi and Schultz provides and discuss some of the background studies related to the research question. They specifically point out how employees’ beliefs about central and distinctive attributes of an organization can sway collective self-perceptions (). At the same time,
We can build customer loyalty by revealing the values to the customer. Customers will often go out of their way to support companies that share their values. We can build employee allegiance by revealing the values to the employees.
Marketing is a process of determining a consumer’s needs, devising a product or service to satisfy those needs, and trying to focus customers on the goods and services you are offering. Marketing is extremely important, and a fundamental building block for business growth. A marketing team is given the task of creating customer awareness through a variety of different marketing techniques. If a business does not pay close attention to their consumer demographic and needs, they will eventually fail over time. Two important aspects of marketing include acquiring new customers, and the preservation and growth of relationships with current customers. Marketing has always been viewed as a creative outlet, which encompassed advertising, distribution, and the selling of goods and services. Marketing staff will also try to anticipate what customers will want in the future, often being accomplished with market research. In summation, a good marketing plan should be able to create a favorable proposition or series of benefits that a customer can value through goods or services. The marketing mix is normally described as the strategic positioning of a product or service in the marketplace, using the specification of the four Ps. During the early 1960’s, Professor E. Jerome McCarthy of Harvard Business School stated that a marketing mix contains four elements. The four key points are product, pricing, promotion, and placement. It is recognized that all these aspects must be present to ensure a successful business model within a given industry. We will now take a thorough look at the four marketing mix points.
...can be key in improving customer sales. If a customer does not see the value of an organization's product, that customer may begin to shop for a competitor's product based only on price. Price is not the only competitive advantage an organization may have, but if it is not able to articulate the non-price value, it can significantly lower the organization's competitive advantage.
The purpose of this section of this report is to define the marketing concept; to explain what it means to be a market-orientated organisation; and to show that Tesco’s appear to be a successful, market-orientated company. Furthermore, that Tesco’s employ strategic relationship marketing to offer value to customers’; and achieve higher revenues and brand loyalty in return. Finally, to explain that being market oriented may also have some disadvantages if not carried out effectively.
According to David Jobber (1995), marketing- oriented organization endeavor to create customer value with a specific end goal of attracting and retaining customers. Their main aim is to deliver better esteem to their targeted customers. In doing as such, they actualize the advertising idea by meeting and exceeding customer’s needs better than the competitions.
According to this, it is obvious that the objective of marketing is to satisfy demand of customers by those ‘individual and organizational activities’ like promotion or pricing of goods, which are all just means to achieve that. Additionally, organizations could stand out from their competitors once they meet the needs of customers better than others. Thus, it can be said that the successful marketing is to provide competitive advantages for organizations by doing better in satisfying customers’ desires through products and other marketing activities.
As Peter Duckers has put it, "The ultimate aim of all business organisation is - to create a customer". These days, for most products and services, the market belongs to the buyer. The customers e...
Customer Value is important to my company. My Company knows who purchase their goods and services and why these consumers view our offerings as having the highest value to them.