Market Orientation

1392 Words3 Pages
bulb-icon

Recommended: What is the importance of market orientation

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 essay has divided into three parts, which are introduction, body and conclusion.

Market orientation is “an organisationwide commitment to researching and responding to customer needs” (Pride et al. 2007). The organisation will satisfy customers’ needs and wants by using their products, services and ideas (, 2007-2008). A market- oriented company is always focuses on customers’ needs. So, the relationship between market oriented company and customers’ will become closer and it is easier for the company to get the information from the customers (Jobber David 2007). Basically, the goal for a market-oriented company is to earn profit from the consumers’ satisfaction. They will achieve their goal by coordinated marketing and interfunctional activities (Lamb, Hair & McDaniel 2002). Market orientation can be shown as figure:

Figure 1 (Adapted from Jobber David 2007 p. 6)

Customer orientation, competitor focus, and cross-functional coordination are the three major components of market orientation. According to Kohli and Jaworski says that market orientation gives “a unifying focus for the efforts and projects of individuals, thereby leading to superior performance” after having interviews with some managers. The major component of market orientation is customer orientation. The business need to understand the value chain of customers all the time. So, the managers and employees can know that by customer calls (Slater & Narver March-April 1994). A market oriented company is always focuses and driven on customers’ needs (Casper April 1989). For example, a company has a program that encourages their employees to visit the customers once a month to receive new information from them. Besides, some company cares about the services before and after sales. All the effort is to meet the customer satisfaction (Slater & Narver March-April 1994).

Secondly, competitor is one of the market orientation components.

Show More
Related

  • Personal Strategic Plan Paper

    1159 Words  | 3 Pages

    A market leader must embrace the five business priorities and make them part of his daily routine as well as his or her long term career plan. The first characteristic involves the prioritizing of people. People inside the organization as well as the customer on the outside are valuable. Communication with people is a key factor. A market leader must have open communication with those on the inside and outside of the organization. Employees must feel free to express their thoughts and concerns. I if the employee feels that they have be heard, then they will have a more positive attitude toward the organization and thus be more productive. Likewise the communication path must be open for the customer. Customer feedback is essential in determining the public outlook toward the organization. If there is no way of obtaining customer feedback, opportunity for improvement is lost. A second characteristic of a market leader is the ability to define strategic objectives. Strategic objectives are made up of plans and goals. One must be able to develop plans and goals for the near as well as the distant future. Plans are the means to achieve goals. The EMS Officer must develop a set of goals and a timeline in which to accomplish them. To obtain the goals the EMS Officer must develop a plan and through communication and collaboration obtain employee buy in. These goals must be

    Read More

  • W.L. Gore & Associates Marketing Analysis

    1689 Words  | 4 Pages

    Marketing is the process of searching for options for accumulating profits by identifying the demands of the people and satisfying their needs with appropriate products. In today’s globalized business world, marketing can play a vital role in establishing trade blocks all over the globe with competitive and cutting edge market, research, policies, strategies and activities.

    Read More

  • Benetton Case Study

    1747 Words  | 4 Pages

    Marketing In this day and age is vital for a company to perform at its possible best. Marketing’s main focus is to give great satisfaction to a customer. There are many aspect of marketing, these aspects give marketer’s the tools to help strive for the best possible success they can achieve. They hope that they can create exposure for their brand, product or service.

    Read More

  • The Concept of Marketing Within the Context of Public and Government Sector

    4370 Words  | 9 Pages

    It discusses broadening the concept of marketing and new approach to marketing, which emphasises on social and relationship marketing. Then, the government/public sector has been introduced and it proceeds with whether traditional marketing principles can be applied to the marketing of organisations in this sector. It concentrates on issues of relevance-how marketing mix fits to it, what are the benefits and constraints. 1.1 The Marketing Concept and the Marketing Mix: Before proceeding further, it is essential to define what marketing is: Kotler (1991) defines marketing as “a social and managerial process by which individuals and groups obtain what they want and need through creating, offering, and exchanging products of value with others.

    Read More

  • Define Marketing Paper

    1377 Words  | 3 Pages

    Marketing is very important to the success of a business. Before people can buy a product or service they have to know about it. However, marketing entails more than just letting people know what your company has to offer. Throughout this paper, I will define marketing, offering my personal definition as well as more formal definitions from other sources. Furthermore, I will explain to the reader the importance of marketing to organizational success giving real world examples in support of this explanation. The field of marketing can include many things. I believe, however, the most important thing which it should include is communication with customers as to the value and benefits of using that particular company's products and services. It should help to establish the business's niche in the industry and distinguish it from other such businesses.

    Read More

  • Using The 4 Ps To Market Ultimate Fighting

    1277 Words  | 3 Pages

    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.

    Read More

  • Tesco: A Market Oriented Organization

    2135 Words  | 5 Pages

    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.

    Read More

  • Marketing Strategy

    1310 Words  | 3 Pages

    Market opportunities for breakfast cereals is vast, some segments of the market have been neglected, most notably that of the over-50’s. Insightful presentations were given at the “Older, Richer, Wiser” Conference that would suggest the over 50’s market segment is targetable.

    Read More

  • Marketing Definition

    959 Words  | 2 Pages

    Every company depends on an efficient marketing program to fulfill customers' needs. Marketing is a process of finding out what the customer wants and meeting those requirements. Within the company, the marketing group has to consider customer values and customer satisfaction before considering offering a product. Marketing is part of our everyday world, and can be perceived everywhere and every time. At any time, everyone has been exposed to different kinds of marketing or advertising depending upon personal necessities such as T.V commercials, radio, internet, etc.

    Read More

  • Marketing in Business

    2002 Words  | 5 Pages

    For a marketing orientated business, the findings from any research will be put to use primarily to aid the business in satisfying the needs and wants of its customers; this type of business has become more popular since 1970, where prior to this business’ were production orientated (until the 1950’s) where the business was concerned with improving its distribution methods, and product orientated (until the 1960’s) where the business’ main concern was the product rather than the satisfaction of the customer. The idea of a marketing orientated business has been explored by Fahy and Jobber (2012) who concurred that a market orientated business is one that considers its customers and the external environment to be an intricate part of the business; This type of business will explore the different aspects of the external environment, and take from its observations ways in which it can continue to trade in an effective, profitable way. A marketing orientated business will also use its findings to help it take advantage of any opportunities in a market and to lessen any threats that could be...

    Read More

  • Customer Value Essay

    1529 Words  | 4 Pages

    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.

    Read More

  • Importance Of Branding, And Brand Loyalty, To Successful Marketing

    1693 Words  | 4 Pages

    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.

    Read More

  • A Service Encounter

    1573 Words  | 4 Pages

    Traditionally, marketers were focused mainly on selling a product. They started with production and marketing was done while selling and promoting the product to attain sales at a profit. In this technique, they were of the view that the product should be brought in the market with an aggressive selling strategy and imposed in the market through promotional pressures. Their marketing purview was limited to 4P’s which are product, promotion, price and place for profit maximisation.

    Read More

  • marketing concept

    651 Words  | 2 Pages

    The marketing concept is a managerial philosophy that an organization should try to satisfy customers’ needs through a coordinated set of activities that also allows the organization to achieve its goals. The marketing concept strives to satisfy customers by determining what buyers want and then by using that information. Businesses also have to alter, adapt, and develop new products to continue earnings profits. By being customer oriented, objectives of a business, such as, increasing profits, market sharing, sales, or a combination can be achieved. This philosophy is aimed at helping the customers, but if the customers’ objections are not met the business may not stay open very long.

    Read More

  • Seafood Marketing Plan

    1968 Words  | 4 Pages

    The major objective of any company is to make profits. Marketing is responsible for identifying a company’s customers anticipating their needs and wants, satisfying theses needs while keeping the its major goal which maximizing profits

    Read More

More about Market Orientation

Open Document