...A Short Note on Market Orientation Market orientation (MO) is one of the most visible phrases in marketing, especially in the MBA and MSc courses on marketing. In many ways it has become an umbrella term (and thus in danger of losing its effectiveness), and is sometimes confused with the marketing concept, customer satisfaction, customer orientation etc. Even though there might be an overlap with the latter terms, this short, friendly note will define MO more precisely and set it in the context of top academic research, especially since 1990. Origins: The Marketing Concept Some highly popular textbooks claim MO is synonymous with the marketing concept. For example, one of most popular marketing texts notes in the first chapter that “the marketing concept is often referred to as ‘market orientation’”. This might have been the case till 1990, but ever since, we distinguish between the two terms. Drucker (1954) may have been one of the first theorists to suggest that creating satisfied customers was the only valid definition of business purpose. Webster (1988) summarized the marketing concept by noting that “executives must put the interests of the customer at the top of the firm’s priorities.” You may like to think of it as a kind of a philosophy, a belief, an ideal, a policy statement, or even a normative statement. Market Orientation In 1990, two seminal papers were published in the Journal of Marketing, which defined and operationalized MO by creating two scales...
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...Assignment Topic : Marketing Orientation Assignment Background : Mr. Dammika Rupasinghe is a Businessman and the proprietor of the D R Enterprises operated in the North Central Province. D R Enterprises is one of the oldest Kitchen apparatus manufactures who introduced the industrial String hoppers machine first time in Sri Lanka. In 1980 this product made a turnaround point of his business having a huge demand as a new invention. At that time Mr. Dammika was facing some difficulties of producing and distributing as per the pertained demand to this product. In 1990, the market was little bit of competitive with number of competitors. Mr. Dammika has continuously developed the product using his technical knowledge for making the competitive advantage. Because of his product consciousness he upgraded the technology, quality and durability of the machine without concerning the cost of production. The high unit price of the product and the availability of the product choices in the market led him a difficult time for the product sales. In 2013 he made an arrangement to restructure the Sales force of D R Enterprises with an attractive incentive scheme. Mr. Rajitha Wickramasinghe is the Marketing Executive of the D R Enterprises who has recently completed the Certificate in Marketing conducted by the Institute of Marketing. Now he is the key strategic driver of the DR Enterprises within the process of organizational restructuring project towards a Marketing orientation. Assume that...
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...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...
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...Heiens / Market Orientation Market Orientation: Toward an Integrated Framework Richard A. Heiens University of South Carolina Aiken Dr. Richard Heiens is Assistant Professor of Marketing at the University of South Carolina Aiken, School of Business Administration, 471 University Parkway, Aiken, SC 29801. (803) 641-3238. RichardH@Aiken.SC.edu EXECUTIVE SUMMARY "Market orientation," may actually encompass several different approaches to the strategic alignment of the organization with the external environment. This article develops a market orientation typology matrix as a pedagogical and heuristic tool to summarize these distinct approaches. Specifically, firms can decide to focus primarily on either competitors or customers as the situation dictates, or perhaps attempt the difficult task of simultaneously monitoring both with equal emphasis. The proposed matrix includes four distinct approaches to market orientation: "customer preoccupied," "marketing warriors," "strategically integrated," and "strategically inept". Firms which emphasize customer-focused intelligence gathering activities at the expense of competitor information may be classified as "customer preoccupied". Because the marketing concept promotes putting the interests of customers first, many researchers consider a customer-focus to be the most fundamental aspect of market orientation. Because the marketing concept encourages a business to be forward looking, a customer-focused business is likely to be more interested...
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...CHAPTER 2 MARKET ORIENTATION AND ITS IMPLICATIONS CHAPTER OBJECTIVES 1. To define the term ‘market orientation’. 2. To describe the development of the concept of market orientation 3. To explain why European organizations were slower than those in America to accept the concept. 4. To set out the characteristics of organizations that are market orientated. 5. To consider how a market orientation can be implemented in an organization. CHAPTER SUMMARY This chapter begins with a definition of market orientation and then looks at its historical development. In looks in detail at the development of market orientation in Europe. It then investigates the organizational and managerial characteristics of market orientated companies and looks at how market orientation can be implemented. ANNOTATED LECTURE OULINE Point 1 - Introduction. Market orientation is the implementation of the marketing concept. Being marketing orientated is more than just being customer-led. It requires the full support of the organization to be fully implemented in the long term and, indeed, may need a complete change in an organization’s culture. Point 2 - Defining market orientation. The text gives a number of the most frequently used classifications and states that market orientation is the implementation of the marketing concept; a form of organizational culture. Point 3 - The historical development of market orientation. Here a parallel can be drawn between the development of an organization and that of...
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...A true marketing orientation requires orgs to focus on meeting the needs of customers. Few companies can supple one product for all eg water supply utility. Most companies face an increase in fragmented markets. SEGMENTATION is about identifying groups of buyers within a market place who have needs that are distinctive in the way they deviate from the ‘average’ customer. Def ‘the identification of sub-sets of buyers within a market who share similar needs and who have similar buying processes’. There are many possible factors that might influence an individual’s choice of product/car (personalisation). The critical approach involves breaking down the ‘problem’ (how to persuade the customer to buy) into sub-problems. Criteria for effective segmentation…What is an appropriate basis for segmenting one market may not be appropriate to all markets. We consider 4 criteria when assessing the effectiveness of any segmentation: *usefulness to a company’s marketing planning; size of the resulting segments; their measurability; and their accessibility. This exercise is only useful to a company if it allows them to penetrate a greater proportion of its market that was not possible before taking out the exercise. Companies must be careful not to homogenise segments, as buyer views are always varied and diverse. Segment size-as they segments become smaller, you are closer to achieving marketing philosophy of satisfying each customers needs, but if they become too small they become uneconomic...
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...by developing a host of new dishes to suit local palates - like the Buriyani and Kotthu - along with the signature KFC meals. c) Products- Burgers Fried chicken Wraps French fries Soft drinks Salads Desserts Breakfast Specialties- Lunch Dinner Coffee Drinks d) Services- 08 Services e) Services names – Takes Reservations Walk-Ins Welcome Good For Groups Good For Kids Take Out Delivery Catering Outdoor Seating 1.2 Marketing Environmental frame work The marketing firm operates within a complex & dynamic external environment. It is the task of the marketing-oriented organization to link the resources of the organization to the requirements of customers. This is done within the framework of opportunities & threats in the external environment. THE MACRO ENVIRONMENT Political Technological Ethical THE MICRO ENVIRONMENT Suppliers INTERNAL ENVIRONMENT Customers Publics...
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...Development AOE Team January 11, 2002 Place Marketing The challenge of place marketing is to strengthen the capacity of a community or a region to adapt to the changing marketplace, seize opportunities, and sustain its vitality. Place marketing succeeds when stakeholders such as citizens, workers, and business firms derive satisfaction from their community, and when visitors, new businesses, and investors find their expectations met. January 11, 2002 2 Core Activities of Place Marketing Designing the right mix of community features and services Setting attractive incentives for the current and potential buyers and users of its goods and services Delivering a place’s products and services in an efficient, accessible way Promoting the place’s values and image so that potential users are fully aware of the place’s distinctive advantages January 11, 2002 3 Strategic Place Marketing Organize a planning group of citizens, business people, and local and regional government officials. Define and diagnose the community’s condition, its major problems, and their causes. Develop a vision of the long-term solutions to the community’s problems based on a realistic assessment of the community’s values, resources and opportunities. Develop a long-term plan of action involving several intermediate stages of investment and transformation. January 11, 2002 4 Strategic Place Marketing (2) The long-term solution involves improving four major marketing factors found in every community. Assure...
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...Answer: The Marketing Orientation and the Marketing Concept An organization with a market orientation focuses its efforts on 1) continuously collecting information about customers' needs and competitors' capabilities, 2) sharing this information across departments, and 3) using the information to create customer value. The market orientation simply defines an organization that understands the importance of customer needs, makes an effort to provide products of high value to its customers, and markets its products and services in a coordinated holistic program across all departments. In what we call the "Marketing Concept," the company embraces a philosophy that the "Customer is King." The Marketing Concept is an attitude. It's a philosophy that is driven down throughout the organization from the very top of the management structure. The Marketing Concept communicates that "the customer is king." Everything that the company does focuses on the customer. Via the Marketing Concept, a company makes every effort to best understand the wants and needs of its target market and to create want-satisfying goods that best fulfill the needs of that target market and to do this better than the competition. It wasn't always that way. There were other orientations that companies embraced over the years. The Production Concept has been around for years. That concept simply suggests that customers prefer inexpensive products that are readily available...
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... Following Lee's death in 1987, Samsung was separated into four business groups – Samsung Group, Shinsegae Group, CJ Group and Hansol Group. Since the 1990s, Samsung has increasingly globalized its activities and electronics, particularly mobile phones and semiconductors, have become its most important source of income.2 Marketing Orientation In a market -oriented company customer is truly the king, as the marketing process revolves around the needs and demands of the customers. The customer is the heart of the business and all the strategies and activities are implemented keeping the customers in mind. After finding the needs and wants of the customer a marketing strategy is implemented based on the marketing research of an organization, as markets continuously change, the marketing orientation is a continuous and ongoing process. Market orientation is the implementation of the marketing concept. Being marketing oriented is more than just being customer-led. It requires the full support of the organization to be fully implemented in the long term and, indeed, may need a complete change in an organization’s culture. Market orientation is usually defined as the...
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...Title of the article selected is “Entrepreneurial Orientation, Strategy, and Marketing Capabilities in the Performance of Born Global Firms” which published in International Business Research Teaching and Practice- The Journal of the AIB-SE Volume 2 Number 1 in year 2008, from page 12 to page 38. Samantha Hartsfield, Douglas Johansen and Gary Knight are the authors of this article. The primary objective of the article is to investigate the antecedents that affect the international performance of born global firms, companies that export 25% or more within the first three to six year of their foundation. From the framework of the study, it reveals that organizational culture, business strategy and business tactics are the three main factors contributing to the international performance of those born global firms. By looking in depth at these three main factors, it actually is a process on how a born global firm can gain competitive position in this intense business environment and thus succeed in the market. In the article, the authors do argue that born global internationalized rapidly as compared to traditional companies due to its smaller size, flexibility, proactive, innovative and risk taking characteristic. Besides, it has better development and management of knowledge in the early stage compared to traditional firm. As for traditional company, it needs to unlearn the routine and operation and learn new process for the new market. It is costly and time consuming and...
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...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 ...
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...INTRODUCTION Buildings come in various types and shapes, frequently determined by their functions. Unfortunately, there are many types of building defect that may occur in most of the building. Building defect is one of the major components of building that needed attention. Building defect refer to the results in a failure of a component part of a building or structure and causes damage to person or property, usually resulting in financial harm to the owner. Building defect will also reduce the value and the function of a building. There are many types of building defect such as cracking, dampness, spalling, peeling paint, insect or termite attack, corrosion, fungus stain and so on. These building defect can affect the performance and the appearance of the building. Building defect can occur either because of poor design, or low quality workmanship, or because the building was not constructed according to the design, or use of inferior materials. When a building facing defects, the causes of that defect have to identified before any remedial work can be undertaken to remedial it. Therefore, we are required to investigate the building defect of a building. We also have to identify the possible cause of the building defect which occur in that building. We have choose the building of Guest House to make our case study and survey. This building is located at Universiti Sains Malaysia, Pulau Pinang. Guest House is one of the famous hospitality choices for USM visitors...
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...Confidential MARC WENN LUXURY GARMENTS & ACCESSORIES Business Plan ©2015 www.marcwenn.com 1.0 Executive Summary MARC WENN will be run as an online fashion business which provides luxury garments and accessories, without the luxury price tags. The business is at its start-up stage with business operation which commenced less than six months. The businesses made over £8,500 within two months of its business operation and currently have about 40,000 followers on major social media such as Instagram, Twitter and Facebook. Its business strategy is designed to deliver e- commerce business and online shop which is gradually replacing the traditional shop premises on the high streets, as a way of reaching the target market. The business is positioned to provide a strong brand identity that is able to affect customers’ behaviours by building emotional connection that is able to reinforce buying habit. The business is named MARC WENN to differentiate its various products from similar offerings, hence attract customers to the business and draw traffic to the business online shop. The increase in the use internet and speed of browsing in our society will provide a huge opportunity for this business to strive. More and more users especially among younger target customers have access to the use of internet for variety of fulfilling purposes, including for shopping. Currently, the main demographic for the business is male age 18-30. The business hopes to extend this to...
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...Immediate Release Gays and Lesbians Face Persistent Workplace Discrimination and Hostility Despite Improved Policies and Attitudes in Corporate America Findings of New National Survey by Witeck-Combs Communications/Harris Interactive to be Presented at Out & Equal Workplace Summit in Orlando on Friday, September 13 Rochester, NY— September 12, 2002— Two out of five gay and lesbian adults in America’s workplaces report facing some form of hostility or harassment on the job, according to a new national study conducted by Witeck-Combs Communications and Harris Interactive®. Moreover, almost one in ten gay and lesbian adults state they were fired or dismissed unfairly from a previous job or pressured to quit a job because of their sexual orientation. In addition, when over 2,000 Americans surveyed were asked which groups of people in society they perceive experience discrimination in the workplace, such as being fired, harassed or denied a promotion, almost three quarters (73%) answered ‘gays and lesbians’ – the second highest survey response, just behind ‘older adults aged 65 and older’ (78%). Other groups mentioned as vulnerable to workplace discrimination included ‘people with disabilities’ (68%), ‘women’ (65%), ‘African Americans’ (61%), ‘Hispanic Americans’ (60%), ‘Muslims’ (60%), ‘Asian Americans’ (44%) and ‘Jews’ (39%). The far-reaching online survey was commissioned by Out & Equal Workplace Advocates, a non-profit organization that provides support and advocacy for the gay...
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