...Marketing management orientations are different marketing concepts that focus on various techniques to create, produce and market products to customers. Companies use these orientations as a basis for their marketing campaigns. There are five different marketing management orientations including marketing, production, product, selling and societal marketing concepts. Other People Are Reading Types of Business Orientation The Difference Between a Marketing Plan & a Marketing Strategy Marketing Concept One of the five marketing management orientations is the marketing concept. The marketing concept is based on the belief that a company must create, deliver and market products more efficiently than the competition in order to turn a profit. To implement this concept, managers focus on researching the target market and customer's needs along with marketing the product in an integrated manner. Production Concept The production concept, the oldest marketing concept, is based on a belief that consumers prefer low prices and product availability. To implement the production concept, managers concentrate on low costs, mass distribution and high production efficiency. The production concept is mostly useful in developing countries where consumers are focused on obtaining products, rather than focused on the features of a product. Sponsored Links Try SMS Finance Marketing Try Finance Marketing With Free SMS Get Effective Finance Marketing ROI www.texttank.co.uk/Finance ...
Words: 464 - Pages: 2
...FUNDAMENTALS OF MARKETING Marketing is managing profitable customer relationships. The twofold goal of marketing is to attract new customers by promising superior value and keep and grow current customers by delivering satisfaction. Marketing as the process by which companies create value for customers and build strong customer relationships in order to capture value from customers in return. Needs States of felt deprivation. Wants The form human needs take as they are shaped by culture and individual personality. Demands Human wants that are backed by buying power. Market offerings Some combination of products, services, information, or experiences offered to a market to satisfy a need or want. Marketing myopia The mistake of paying more attention to the specific products a company offers than to the benefits and experiences produced by these products. Exchange The act of obtaining a desired object from someone by offering something in return. Market The set of all actual and potential buyers of a product or service. Marketing management The art and science of choosing target markets and building profitable relationships with them. dividing the market into segments of customers (market segmentation) and selecting which segments it will go after (target marketing). Five alternative concepts under which organizations design and carry out their marketing strategies: Production concept The idea that consumers will favour products that are available...
Words: 987 - Pages: 4
...The Development of a Measure of Business Process Orientation and its Link to the Interdepartmental Dynamics Construct of Market Orientation by Dr. Kevin McCormack President DRK Research and Consulting LLC Kmccormack@drkresearch.org tel.205-733-2096 fax 205-733-2094 2232 Baneberry Dr. Birmingham, AL 35244 March, 1999 ABSTRACT Interdepartmental and cross functional interaction are proposed to be critical to business success in today’s environment. Interdepartmental dynamics, a component of the Kohli and Jaworski market orientation framework, has been shown to influence market orientation and business performance. Several concepts have developed recently relating to and possibly further defining these components of market orientation. These are concepts of the business process orientation of an organization and the impact on interdepartmental and cross functional interaction. This study develops the construct of business process orientation (BPO) as it relates to interdepartmental dynamics. It also develops and validates the measures for BPO and tests the proposed relationship of BPO to interdepartmental dynamics. Copyright( - Property of Dr. Kevin McCormack. Do not copy without permission TABLE OF CONTENTS EXECUTIVE SUMMARY ………………………………………………………. 3 I. INTRODUCTION AND PURPOSE……………………………………… 4 II LITERATURE REVIEW (edited)………………………………………… 7 III RESEARCH DESIGN ……………………………………………………. 10 IV...
Words: 9548 - Pages: 39
...BOA Marketing Unit 1 Chapter 1 An Study Guide By Dinah What does marketing do: Marketing entails processes that focus on delivering value and benefits to customers, not just selling goods, services, and/or ideas. It uses communication, distribution, and pricing strategies to provide customers and other stakeholders with the goods, services, ideas, values, and benefits they desire when and where they want them. It involves building long-term, mutually rewarding relationships when these benefit all parties concerned. Marketing also entails an understanding that organizations have many connected stakeholder "partners," including employees, suppliers, stockholders, distributors, and society at large. 1. Research shows that companies that reward employees with incentives and recognition on a consistent basis are those that perform best. * The motto of Wegmans Food Markets, the Rochester-based grocery chain that has been ranked by Fortunemagazine as the best company to work for in America, states, "Employees first, customers second." The rationale is that if employees are happy, customers will be too. What other marketing type: One desired outcome of marketing is an exchange ; people giving up something to receive something they would rather have. Normally, we think of money as the medium of exchange. We "give up" money to "get" the goods and services we want. Exchange does not require money, however. Two persons may barter...
Words: 1206 - Pages: 5
...as a PC or an Apple Mac. The final decision is the most important in terms of acquiring something, the buying power. Someone can have the need to drink something because he is thirsty and he wants as an individual and due to his personal preference and social stimuli to drink red wine. He would need to have enough money to buy red wine. The same applies to the decision to buy a car. One could want to get a Ferrari but chooses to get a Fiat because that is what he can afford. All three factors are equally important because someone who has enough buying power to get a Ferrari won’t get it if he can’t drive a car or if he doesn’t like it. 2. What are the five different marketing management orientations? Which approach is McDonald’s adopting in your opinion? The five different marketing management orientations are production concept which includes the mass production of the same...
Words: 629 - Pages: 3
...Task 1, Case 2 The Elements of the marketing process that can be used for the tourism industry in Tobago and even in and Trinidad and Tobago, as a whole will be explained paragraphs below. Firstly, we must look at marketing. Marketing is described in many ways, but Chartered Institute of Management definition for marketing is “a management process responsible for identifying, anticipating and satisfying customers’ requirements profitably”. In the tourism industry within Tobago, organizations need to seek the needs and fulfil the nature of the sector. Some of the measures that can be used to satisfy and anticipate these needs are: to conduct proper marketing research, such as collecting primary data which is surveys, questionnaires and observations. From the primary data it can be transmitted it into secondary data such as reports, records and statistics for analyzing the tourism sector. The elements of the marketing process are described as “a set of controllable tools that the firm blends to produce the responses it wants in target market, so it consist of everything the firm can do to influence the demand for its products” (Kotler and Armstrong, Principles of Marketing, 2004). Therefore, Tobago House of Assembly and the Tobago Hospitality Training Institute can use PESTEL Analysis, SWOT Analysis, Porter’s Five Forces and many other strategic tools to conduct and analyze the tourism sector. It is also important to consider demographics, market environment (macro environment...
Words: 848 - Pages: 4
...Question 5 Marketing is the process in which advertisers attempt to create profitable relationships with consumers, while establishing a profit for their goods or services. In addition to generating new customers, marketers must also focus of customer retention. The marketing process has five key steps that lead to a successful organization/ campaign. * Targeting Consumer Wants The first step of the marketing process is analyzing and comprehending the current marketplace. Understanding what people want is essential to beginning a successful marketing campaign. After finding a potential niche for a product or service, marketers must conduct research about competitors and similar items currently available on the market. After identifying these factors, an overall plan must be established to launch the good or service. Sales methods, franchising, and partnerships are all aspects of the product launch that must be examined before production can take place. * Establishing a Consumer-Driven Sales Strategy After finding a profitable niche, a unique strategy must be established to market to the intended target audience. This step of the marketing process is essential, as a method must be constructed that not only will be profitable for the company, but also for the consumers. Market segment analysis is often done to break down the population into smaller groups, so the target audience can be found. * Creating Consumer Value The next step of the marketing process is...
Words: 3621 - Pages: 15
...BUS 606 Entire Course Global Comparative Management http://homeworklance.com/downloads/bus-606-entire-course-global-comparative-management/ All Tutorials will be E-mailed immediately after the Payment, Please Check your inbox or Spam Folder and can also be Downloaded by clicking on Tutorial Bucket. For More Tutorials Visit Website: HOMEWORKLANCE.COM For Any Other Inquiry Feel Free To Contact Us: Lancehomework@gmail.com BUS 606 Entire Course Global Comparative Management BUS 606 Week 1 DQ 1 Global Leadership Global Leadership. Identify three leadership challenges in a global world. Support your answers with examples and/or professional experience. Discuss how you would develop a global mindset in five central areas: General perspective Organizational life Work style View of change Learning. Respond to at least two of your classmates’ postings. BUS 606 Week 1 DQ 2 Globalization Globalization. Discuss advantages and disadvantages of globalization. How has globalization affected cultures and cultural identities? Respond to at least two of your classmates’ postings. BUS 606 Week 1 Globalization and Cultures Globalization and Cultures. In a 3-5 page, APA style paper, complete an article review. Your article should come from one of the Ashford online library resources. Your article should cover one or more of the following topics that were introduced in your readings: the impact of globalization cultural differences leadership challenges in...
Words: 1409 - Pages: 6
...SIMULATION TITLE: What is Marketing? SIMULATION DESCRIPTION: Holden Evan, Inc., has long been the premium dog food market leader with its flagship Grand Champion brand. The brand targets breeders, trainers, and owners of purebred dogs willing to pay higher prices for superior nutritional and health benefits. During an economic downturn, the Grand Champion brand suffered a sharp and prolonged decline in sales. The Marketing Manager must re-evaluate the brand's marketing strategy and marketing management orientation to determine if they need revision. You earned 100 percent. Background Holden Evan, Inc., has long been the premium dog food market leader with its flagship Grand Champion brand. The brand targets breeders, trainers, and owners of purebred dogs willing to pay higher prices for superior nutritional and health benefits. During an economic downturn, the Grand Champion brand has suffered a sharp and prolonged decline in sales. The brand has become unprofitable. The marketing team is concerned that customer needs and wants may have shifted. Your objective as Marketing Manager is to re-evaluate the brand's marketing strategy and marketing management orientation to determine if they need revision. Background Your supervisor, the Vice President of Marketing, describes your assignment. "We have traditionally been the market leader in the premium dog food market with our Grand Champion brand. However, during the recent economic downtown, the brand suffered a sharp drop in...
Words: 1375 - Pages: 6
...The approach taken in solving Marketing assignment and Marketing homework is to lucidly explain the concepts involved as well as how to apply these to practical problems. HwA’s expertise in MarketingManagement Assignment solving spans various streams such as 5 C's of marketing - company, collaborators, customers, competitors, and climate Market Segmentation Target Market Selection Market Analysis – involving market sizing, drivers, restraints, trends, distribution channel, etc. 4P’s of Marketing Brand Equity Pricing Strategy Product life cycle Business Marketing Customer Lifetime Value Customer Relationship Management Marketing Orientation Integrated marketing communication Our highly qualified, professional and skilled team members can provide you help with complex marketing case study, report writing, essay writing, research paper, term paper, dissertation involving multiple disciplines and concepts, research proposal writing, presentation in areas like brand equity, marketing mix, etc. The HWA team has highly qualified tutors with many years of industry experience. The team has helped a number of students pursuing education through regular and online universities, institutes or online MBA, MA, or BA Programs. What is Marketing Management? Marketing is a social and managerial process by which individuals and organizations obtain what they need and want through creating and exchanging value with others. Marketing is a business function which deals...
Words: 521 - Pages: 3
...International Business Final Chapter 16: Marketing Globally - country differences may cause companies to apply marketing principles differently Marketing Strategies - worldwide marketing commonly found and market segmentation and targeting Marketing Orientations - five common marketing orientations around the world: production, sales, customer, strategic marketing and social marketing 1. Product Orientation - when companies focus on production and little emphasis is on marketing (commodity sales, passive exports, foreign niches) 2. Sales Orientation - companies sell abroad what they sell domestically with the same approach – assume consumers are similar 3. Customer Orientation - country or type of customer is held constant and the product/marketing method varies 4. Strategic Marketing Orientation - strategy that combines production ,sales and customer orientations 5. Social Marketing Orientation - environment Segmenting and Targeting Markets - by country, by global segment, by multiple criteria, mass markets vs. niche markets, Why Firms Alter Products Legal - labeling requirements, environmental protection regulations, indirect legal considerations, issues of standardization Cultural and Economic - infrastructure (economic) The Product Line: Extent and Mix - company may only offer only a portion of its product line, perhaps as an entry strategy Sales and Cost Considerations - consider costs of having large vs small...
Words: 1056 - Pages: 5
...1 Principles of Marketing Marketing: Managing Profitable Customer Relationships Learning Objectives After studying this chapter, you should be able to: 1. Define marketing and outline the steps in the marketing process 2. Explain the importance of understanding customers and the marketplace, and identify the five core marketplace concepts 3. Identify the key elements of a customer-driven marketing strategy and discuss the marketing management orientations that guide marketing strategy 4. Discuss customer relationship management, and identify strategies for creating value for customers and capturing value from customers in return 5. Describe the major trends and forces that are changing the marketing landscape in this age of relationships 1-2 Chapter Concepts 1. 2. 3. 4. 5. 6. 7. 8. What Is Marketing? Understanding the Marketplace and Customer Needs Designing a Customer-Driven Marketing Strategy Preparing an Integrated Marketing Plan and Program Building Customer Relationships Capturing Value from Customers The New Marketing Landscape So, What Is Marketing? Pulling It All Together 1-3 What Is Marketing? Marketing Defined Marketing is the process by which companies create value for customers and build strong customer relationships to capture value from customers in return 1-4 What Is Marketing? The Marketing Process 1. 2. 3. 4. 5. Understand the marketplace and customer wants and needs Design a customer-driven marketing strategy Construct...
Words: 1583 - Pages: 7
...What is marketing? Marketing can be referred to as a form of communication with your customers, with the help of marketing tools such as advertising, promotion, publicity, design aspects related to the look of the product etc. All these are aimed at getting the target audience (customer) to first get interested in your product or service and then ultimately buy them. * Marketing is a social process by which individuals and groups obtain what they need and want through creating and exchanging products and value with others * PHILIP KOTLER) ANY INTERPERSONAL AND INTER ORGANISATIONAL RELATIONSHIP INVOLVING AN EXCHANGE IS MARKETING . WILLIAM J. STANTON.) Explain its core concepts. Needs, wants and demands are the core concepts of marketing. These are basically inter related to each other which means needs which could be individualistic, social or physical arise due to a state of deprivation and have to be fulfilled for a basic human survival. Some human needs shaped by cultural and individual experiences and lifestyles take the form of wants. Ultimately demands are those sets of wants which are backed by the power to buy and could be related to many needs & wants. Other related concepts of marketing may include the Marketplace with exchange and the actual transaction as its base. The essence of Marketing is a transaction - an exchange- intended to satisfy human needs and wants.There are three elements in the marketing process : (A) MARKETERS (B)WHAT IS...
Words: 1404 - Pages: 6
...Defining Marketing for the 21st Century GENERAL CONCEPT QUESTIONS Multiple Choice 1. Good marketing is no accident, but a result of careful planning and ________. a. execution b. selling c. strategies d. tactics e. research Answer: a Page: 4 Level of difficulty: Medium 2. Marketing is both an “art” and a “science”—there is constant tension between the formulated side of marketing and the ________ side. a. creative b. selling c. management d. forecasting e. behavior Answer: a Page: 4 Level of difficulty: Easy 3. The most formal definition of marketing is ________. a. meeting needs profitably b. identifying and meeting human and social needs c. the 4Ps (Product, Price, Place, Promotion) d. an organizational function and a set of processes for creating, communicating, and delivering, value to customers, and for managing customer relationships in ways that benefit the organization and its stake holders. e. improving the quality of life for consumers Answer: d Page: 6 Level of difficulty: Medium 4. Marketing management is ________. a. managing the marketing process b. monitoring the profitability of the companies products and services c. selecting target markets d. developing marketing strategies to move the company forward e. the art and science of choosing target markets and getting, keeping, and growing customers through creating, delivering, and communicating superior customer value Answer: e Page: 6 Level of difficulty: Easy 1 Part 1: Understanding Marketing Management ...
Words: 8776 - Pages: 36
...Marketing Compare and contrast the five different marketing management orientations. Is the one orientation right and the others wrong? Katarzyna Kawa 1. INTRODUCTION Marketing as barter has its ancestry in olden times, when people started to produce goods for their own use and then to exchange them for other things. The concept of marketing that we have now has more to do with developments from the period of the industrial revolution of the 18th and 19th centuries. This was an age of fast social change determined by technological and scientific innovation. In the late nineteenth and early twentieth centuries, manufacturers did not really need marketing. It was not a problem for them to sell whatever they produced. As marketplace and technology developed, competition started increasing and companies began to produce more than they could without difficulty sell. In 1950s and 1960s organizations developed increasingly huge forceful sales, and more aggressive advertising methods. In 1970s marketing generally moved away from a heavy emphasis on post-production selling and advertising to become a more comprehensive and integrated field, earning its place as a major influence on corporate strategy. As a final point in the 1980s customers obtained their correct place at the center of the organization’s life, and yet there is still space for further development of the marketing concept, as new submissions and contexts come out. 2. MARKETING ORIENTATIONS The marketing...
Words: 1504 - Pages: 7
