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Orientation in marketing
The strength and weakness of market orientation
Market orientation and customer orientation
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Introduction Many companies face challenges to make their products stand out due to globalisation especially in emerging markets, and expanding product portfolio from other businesses. The food industry not only has to develop innovative ideas for the growing population, but provide consistent high quality both in products and services (Dumovic, Knowles, 2008). The purpose of this academic essay is to critically analyse the importance of implementing, supporting, and driving factors to help Pars Food Ltd communicate, identify competitive advantage and differentiation, to meet long term aims, and strategies (Dumovic, Knowles, 2008). Background Literature To accomplish competitive advantage, and differentiation three elements are crucial; stating the strategies and practicalities, focusing on knowledge based behaviour, and improving the customer relationship management.(Slater and Narve 1995). Implementing factors provides an overall corporate strategy meaning, helping an organisation strive towards achieving company goals (Thomas, 2013). To develop new strategies, market research would have to be carried out both from primary and secondary sources about what consumers would favour in terms of product and service provision (Ebert, Griffin, 2011). Therefore, a market orientated culture is integrated in businesses to focus solely on customers opinions of their products and services to gain a competitive advantage( Slater and Narve, 1995).Market orientation has a direct correlation with improving performances of companies, due to a central role of customers, helping develop existing strategies (Slater and Narve, 1995). Furthermore, demographic and geographic variables could help businesses decide which area is a priority to co... ... middle of paper ... ...siness essentials, (pp. 188-189), Boston [Mass]; London: Pearson. Ebert Ronald J and Griffin Ricky W. (2011). Operations Management and Quality (8th edition) Business Essentials.(pp.128-132), Boston [Mass];London: Pearson. Ebert Ronald J and Griffin Ricky W. (2011).Business Management.(8th edition). Business essentials, (pp.94-97), Boston [Mass]; London: Pearson. Peter Dumvoic. & Daniel T.Knowles. (2008). Market Analysis, Marketing Masterclass, Product differentiation for competitive advantage, 8(5-8). Doi:10.1057/palgrave.jmm.5050122. Stanely F. Slater and John C. Narver. (1995). Market Orientation and the Learning Organisation,59,(3),pp63-74. Younggui Wang and Hui Feng. (2012). Customer Relationship Management Capabilities; Measurement, antecedents and consequences,50(1),pp115-129. Doi:10.1108/00251741211194903.
Vonderembse, M.A. & White, G. P. (2013). Operations Management. San Diego, Ca: Bridgepoint Education, Inc.
Understanding the number of competitors and their capabilities in a particular market is a key function of building strategy. If a company is competing against another company offering the same product or service, it faces limitation in regards to both supplier and buyer power. Customers will always tend to go to the place where they get the same product for a cheaper price, while supplier will tend to flock to places where the deal is considerably high. For CMG, a key differentiation in its competition within the fast food industry is designated I its ability to meet a one of a kind fast food experience where customers experience fine-dining similar to high0end hotels, but a low prices. CMG additionally differentiates totally with its rivals in the sense that they struggle to offer healthy and high-quality food that positively impacts the society.
Operations management is essential for the survival and success of any organization. According to Heizer & Render (2011), operations management (OM) is the set of activities that creates value in the form of goods and services by transforming inputs into outputs. Operations managers today contend with competition, globalization, inflation, consumer demand, and consistent change in technology. Managers must focus on the efficiency and effectiveness of processes such as cost, dependability, distribution, flexibility, and speed. The intent of this paper is to discuss the processes and operations management of the Kroger Company.
Adopting a strategy of differentiation makes firms provide products and services what are distinct in some way valued by customers.
Dickson, P. R., & Ginter, J. L. (1987). Market segmentation, product differentiation, and marketing strategy. Journal of Marketing, 51(2(April 1987)), 1-10. Retrieved from http://www.jstor.org/stable/1251125
Arthur, A., Thompson, Margaret, A., Peteraf, John, E. Gamble, A., J., Strickland III. (2014). Crafting & Executing Strategy: The Quest for Competitive Advantage 19e: Concepts & Cases. C6-C25.
Soman,D & Marand, S (2009). Managing Customer Value: One Stage at a Time.: World Scientific Publishing. p9-14.
Differentiation through marketing strategies, this is a form of innovation driven by the need to create a superior brand (Sadler, 2003).
Robbins, S. P., & Coulter. M. (2014). Management (12th ed.). Retrieved from: Colorado Technical University eBook Collection database.
Slack, N., Johnston, R. and Brandon-Jones, A. (2011).Essentials of operations management. 1st ed. Harlow, England: Financial Times Prentice Hall.
Slack, N., Chambers, S., Johnston, R., Betts, A.,(2009). Operations and process management: Second edition. Harlow: Pearson Education Limited
From a food and beverage manager's perspective - What are the important characteristics and procedures of a food and beverage establishment in relation to its size, type, market, design, planning and organization?
Schonberger, R.J. and E.M. Knod Jr. Operations Management: Continuous Improvement. Richard D. Irwin, 1994, p. 44. 16. Selto, F.H. and D.W. Jasinski. "
Russel Y., Topper S., Akerman L., Oliveira J., Strydom Z.; 2013; Studying Business NSC Business Studies Grade 12; 2013 Edition; Paardekraal; Excom Publishers; 26/05/2014
University of Phoenix(Ed.).(2003) Operations management for competitive advantage[University of Phoenix custom edition e-text]. New York: McGraw-Hill. Retrieved February 01, 2005, from university of phoenix, Resource, MGT554- operations management website: https://mycampus.phoenix.edu/secure/resource/resource.asp