This can include improvements that the consumer may not be directly aware of as being an option. These trends, even when not specifically expressed, can allow the product to develop in intuitive way, attempting to anticipate consumer need before it becomes obvious.
This allows a company to focus product development funds on the characteristics that are most in demand at the time in the hope of fulfilling consumer desires through their product choices. Beyond the consumer stated needs or wants, additional data analysis may reveal trends or consumer desires that are not specifically expressed.
At times, market orientation may reveal customer desires that are not cost effective to implement. Market orientation is a customer-centered approach to product design. Benefits and Risks of Market Orientation Market orientation provides for customer service and support improvements geared towards specific consumer desires, as well.
Sales orientation focuses less on the customer and the product and instead redirects their energies toward the act of selling through various advertising-driven mechanisms, such as television commercials and sales calls. While some level of all approaches may be required for an overall successful marketing strategy, most businesses focus on one as a primary concern above the others.
This helps ensure customer satisfaction remains high with the company as a whole and can function as a way to promote brand loyalty and positive word-of-mouth advertising. This also promotes long-term development strategy as options that are not cost effective today may become cost effective down the line.
With an increasingly global economy and more and more choices for consumers, companies must be willing to adapt their market orientation to stay competitive. This leaves the business in a position to have to determine which consumer stated needs will yield optimum returns for the business while still meeting general customer expectations or needs.
A variety of research is often conducted to determine what consumers view as immediate needs, primary concerns or personal preferences. Product Differentiation and Sales Orientation Development focused on market orientation put consumer desire first, creating the product around their expressed needs and wants.
Product differentiation puts additional focus on product development and marketing their decisions to the consumer.Learn what a marketing-oriented company is and how a company can become more marketing-oriented.
See examples of marketing-oriented companies, and. braced marketing orientation as a company-wide philos- ophy; the "Departmental Marketers," as the companies that perceive that the concept of marketing orientation is is increased adaptability of the company to its market, it is intuitively attractive to assume that in order to achieve maximum adaptability both company attitude and behavior.
Analyse Market Orientation on a Company Essay Explain how a market orientation affects a company. Critically evaluate alternative orientations. Illustrate your answer with relevant examples. A market orientated organisation embraces activities geared towards understanding the customers needs and developing products.
Market orientation is a company philosophy focused on discovering and meeting the needs and desires of its customers through its product mix. Unlike past marketing strategies that concentrated on.
A company using market orientation invests time researching current trends in a given market. The company then develops a product strategy that caters to the wants and needs of its clientele.
Upon deployment, the company advertises the products as items that consumers already want rather than. What is a Marketing Oriented Company?
to serve them better is called as a "Marketing-Oriented Company". KEY TRAITS of a Marketing-Oriented Company. Some of the vital characteristics of these companies are: Market Oriented Company; Customer / Client Oriented Company.Download