...NORTH- HOLLAND Marketing Orientation and Company Performance Industrial vs. C o n s u m e r G o o d s C o m p a n i e s George J. Avlonitis Spiros P. Gounaris Marketing orientation, still an intriguing concept for man),, carries the pledge of superior company performance through the satisfaction of customer's needs. This article draws conclusions from an empirical investigation showing that this relationship does really exist and, in the case of industrial markets, building a marketing orientation it is indeed a significant contributor to the company's performance. © 1997 Elsevier Science Inc. INTRODUCTION Recent studies [1-3] have tried to collect empirical evidence to investigate whether the adoption of marketing Address correspondence to Dr. George J. Avlonitis, Athens University of Economics and Business, Department of Management Science and Marketing, 76 Patission Str., Athens 104 34. Greece. orientation leads to better performance in the market. However, the way that marketing orientation is conceptualized tends to differ. For instance, while Hooley, Lynch, and Shepherd [1] conceptualized marketing orientation as a set of specific beliefs that form a certain company attitude/culture, Narver and Slater [2], as well as Kohli and Jaworski [3], explained the concept as a certain behavior. Furthermore, most of the available empirical investigations of the association between marketing orientation and company performance tend to draw general conclusions about...
Words: 11900 - Pages: 48
...Break Even (Unit Sales Price-Variable Costs) Fixed Costs = Break Even (Unit Sales Price-Variable Costs) Fixed Costs = Principles of Marketing – MKTG 3010 – Fall 2014 Final Exam Study Guide –this guide is illustrative rather than exhaustive Topics from overall course themes (about 30-35% of the exam) * Brief definition of marketing: Managing profitable customer relationships * SWOT analysis * Break-even analysis Break Even | = | Fixed Costs | | | (Unit Sales Price-Variable Costs) | | | | * Consumer Behavior: describe the 5 steps, high vs. low involvement 1. Need Recognition 2. Information Search 3. Evaluation of Alternatives 4. Purchase 5. Post-purchase behavior * Diffusion of innovation: describe each group on the adoption curve * Marketing Research: primary vs. secondary data, qualitative vs. quantitative methods Primary Data: Information that is collected for the first time; used for solving the particular problem under investigation. Secondary Data: Data previously collected for any purpose other than the one at hand. Qualitative Methods: * Depth Interviews * Focus Groups * Projective Tests * Observational Methods * Metaphor Elicitation Quantitative Methods: Experimental & control/comparison groups. Manipulate independent variable across groups. •Independent & dependent variables, control/comparison conditions •Not casual...
Words: 651 - Pages: 3
...Marketing Strategy Marketing Analysis Customers Needs (Rational & Emotional), Problems, Benefits Decision Making Process (DMP) What makes Customer move from one stage to another? Selling Process matches Buying Process Decision Making Unit (DMU) Initiators, Gatekeepers, Influencers, Deciders, Controllers, Buyers, Users Company Goals, Core Competence, Resources, Organization, Weaknesses Revenue & Margin, Market Share & Growth, Cost of Learning New Skills Competitors What/Who will the consumers compare us to? What are the strengths/weaknesses of rival offerings? How will competitors react? Collaborators Who can help us? What can they do for us? Can they capture sufficient value? Are there conflicts? Context Trends: Economy, Industry, Culture, Technology Government Role & Regulations Creating Value Market Segmentation Geographic (nations, regions, cities) Demographic (age, family size, occupation, education, gender, income) Psychographic (lifestyle, personality, values) Behavioral (product knowledge, usage, loyalty, attitude, benefits) Target Market Selection Customer Attractiveness of Segment to the Company Size, Growth, Profitability Accessible, Identifiable, Actionable Addressable, Credible Sustainable Attractiveness of Company to Segment Interested in what we have to offer Product/Service match their needs/wants/goals Company Operation: Can deliver product/service reliably Marketing: Can carry out marketing plan credibly Competitors Not serving the segment adequately or not in...
Words: 805 - Pages: 4
...Loyalty – Victoria’s (VS) Secret has been described in one Business Insider article as, “the most popular apparel brand in the world”(Lutz, 2013). This may not be the case, but there certainly seems to be buzz surrounding the brand. Victoria’s Secrect, La Senza (Canada), and Pink are the three leading brands in the global lingerie market (Limited Brands Inc., 2013). VS managed to retain its customers and turn out an increased gross profit in spite of higher costs of production they faced last year, specifically for cotton, which may be a testament to the value of their brand (Euromonitor International, 2013). * Marketing through Social Media– While VS spends a lot on marketing, they increase their return on investment (ROI) by using such platforms as Facebook, Twitter, and Pinterest, to redirect traffic to their main website – one strategy to encourage online consumer behavior (Euromonitor International, 2013; Jane, 2012). Currently, VS ranks as the second most popular retail brand on Facebook, having over 24 million fans to date (Facebook Inc., 2014). As well, customers with the VS credit card can gain “social points” by connecting their Angel Cards with their social media accounts and sharing Victoria’s Secret news (Victoria’s Secret Inc., 2014). * Sales - Last fiscal year, VS generated US $1.5 billion through its online channel of distribution alone, amassing US $4.0 billion total from all of its distribution channels (Euromonitor International, 2013). VS accounted for the...
Words: 2473 - Pages: 10
...Marketing Metrics Forecast better: Cost per lead A specific metric that involves taking a close look at the average monthly costs and total number of leads generated in that specific channel. The ratio of the investment in advertising for a ‘pay-per-click’ campaign to the number of clicks on the advertising link (750 clicks in this case) would deduce the cost per lead. Various strategies can then be implemented to keep the cost per lead to its minimum. Projected ROI This is an important metric that determines the profitability of a marketing campaign. For a positive projected return on investment, the average sales derived from each customer (customer value) should be more that the cost per lead and metrics that define the sale success. MQLS Vs. Goals This metric helps make sure that the marketing strategies are on track to generate enough MQLs (Marketing Qualified Leads) to reach the monthly targets. Also, as companies move through months during the year, the number of leads created should also increase/ the higher the quality of a lead, the faster it will convert into an opportunity of conversion into a customer. Assess Sales and Marketing effectiveness: New Session and Total Visits Google Analytics metric that helps calculating new sessions and subsequently new visitors vs. recurring visitors. If the website is sticky enough, it will be effective enough to retain customers and drive in new traffic thus also increasing total visits. Marketing...
Words: 369 - Pages: 2
...though the brand is very appealing and advertised as cute and playful I believe that some of the merchandise are very explicit and too sexy for tweens. There are many items in the PINK brand that younger girls can wear but some are more appropriate for adult women. The company classifies the brand as "loungewear" that is young, hip and casual. There are quite a few items, especially panties that are definitely not casual. They are made of lace and barely have any material that covers the body. They look very controversial. Some panties also have wording that various customers may interpret differently, wording such as "tonight's the Night" on front of the panties, or "Have Fun" on the back of the panties. The PINK merchandise shown on the VS website and in the catalogs is advertised by younger models that are posing very sexy and revealing. Their looks are not for young girls to look at. The young customers will look up to the models and try to look like them and that's not right as the tween girls are too young to be exposed to such a provocative advertising (victoriassecret.com). These types of merchandise are definitely not for young girls. I do agree that the brand should be geared toward 18-30 year old women. At that age the woman understands the products she purchases and can make better choices. The clothes that customers wear are reflections of who they are and other people may judge the customer by the clothes she wears. Young girls that wear PINK may be perceived to...
Words: 1160 - Pages: 5
...INTRODUCTION The idea or concept of Business to Business (B2B) marketing has existed for centuries but for a long time it had been ignored and remained in the shadows of the more traditional Business to Consumer (B2C) marketing (Pitt & Honeycutt, 2001). It is over the last two decades has more light been shone on this important phenomenon- where businesses trade with other businesses, governments and Institutions . It is essential to first and foremost understand that B2B marketing cannot exist in isolation, the existence of B2B and B2C markets are in many ways dependent on each other for its survival and growth, a single demand for a B2C product such as a car gives rise to millions of B2B market demands such as aluminum, leather, steering systems, engines, etc (derived demand). Furthermore a failure in one market will have significant detrimental impact on the other. This essay however aims to identify the differences that exist between the two markets and how multinationals such as Hewlett-Packard (HP) implement separate marketing strategies based on the distinctions that exist within the market and their consumers. PRODUCT DIFFERENCE (standardized vs. complex) Hewlett Packard (HP), famous for its laptops, desktops and printers and storage devices sells its products in both markets. The B2C market it operates is more standardized and less complex that its B2B counterpart. Large groups of individual customers exist whose specifications for the products are more or less...
Words: 2006 - Pages: 9
...B2B vs. B2C For more than a decade usage of the Internet has increased exponentially changing the way companies interact with their customers. According to Ralph Oliva (2007, p.1), “Forecasters expect domestic B2B purchases will continue to total trillions of dollars annually.” He goes on to say that in 2004, “domestic B2B online sales totaled $2.7 trillion” while online retail sales in 2004 reached $184 billion. This increase has opened up new opportunities and challenges for marketing to these customers electronically. Because business customers and individual customers react differently to marketing, strategies and tactics used to reach one segment may differ from those used to reach the other. This paper will first look at how the business customer and retail customer are different, then delve into the differences between B2B and B2C marketing. Relationship Differences One important aspect of marketing is to build good relationships with customers. “In B2B or business to business this requires a commitment of time and good customer service prior to ever making that first sale.” (Warholic, 2007, p.1). One of the differentiating factors between B2B and B2C sales is the B2B sales process takes longer because business customers require more communication and product details. Business customers are not apt to purchase during the first contact with a vendor. Usually the sale, especially the first one, takes multiple contacts creating a bonding relationship. Business...
Words: 1179 - Pages: 5
...Quartz from competitors like Hangsgrohe, while maintaining market share in other channels, resulting in minimal cannibalization (Exhibit 4). Already recognized as a premium brand, Aqualisa can leverage its innovative technology and tailored campaigns to build brand awareness (Exhibit 5) and quickly become the top player in the premium space. A number of other options are also presented: targeting consumers, DIY or developers. Marketing to consumers alone may be ineffective, as they rely heavily on plumbers to select a product. This approach is also expensive, requiring mass media advertisements in an industry where brand awareness is low. While Triton was successful in building awareness, their sales are mainly in cheap electric segment (Exhibit 3). It’s also unknown how long this took to build. DIYers are shopping at much lower price points covered by Gainsborough. Early association with discount channels could hurt the premium brand; however future moves to introduce Gainsborough with Quartz technology could grow shares in the value segment. Marketing to developers is illogical, as they are happy with ShowerMax. However,...
Words: 820 - Pages: 4
...DRMS | Drewes Restaurant Marketing Solutions ¡°Build Your Brand. Drive Your Sales¡± www.drmsmarketing.com Transactional Marketing: The evolution of Direct-to-Consumer Marketing Intro: For decades, Marketers have sought after the next best way to efficiently and effectively reach loyal or potential consumers with offers and rewards. Consider the ideal tool for a marketer. The ideal tool would offer the following features and benefits: Scale: Ability to reach a large scale audience and have significant impact Targeting: Target based on a consumer.s actual or potential behavior Engagement: Interact with the consumer in their most receptive environments Attribution: A consumer.s involvement and self-acceptance on an offer Measurement & Validation: Accurately measure & analyze results to gauge impact and incrementality Impact: Significant results & efficient pricing that enables a positive ROI model Privacy: Welcomed, non-intrusive communication that respects consumer.s privacy Now, consider today.s marketing options: - Mass Media (TV, Radio, Print) - Newspaper Inserts / FSI - In-Store Communications - Direct Mail (solo & co-op) - Database Marketing - Email Marketing - Social Media - Daily Specials Not one of today.s options are able to provide all the desired features. Introducing the age of transaction-based marketing. Debit and Credit cards have long been generating transactional data that personify and identify a cardmember.s purchase history. In the past few years,...
Words: 1273 - Pages: 6
...clients * 產品及服務分為下列： 1. Checks： →The majority of the revenue in Financial Services and Direct Checks →40.7% of Small Business Services segment’s revenue 2. Marketing solutions and other services： →主要在Small business Services上 →offers services designed to fulfill the sales and marketing needs of small businesses →包含 * web design / hosting and other web services / * Search engine optimization * Marketing services..email/ mobile/ social media/self-service marketing solutions * Digital printing services * Logo design →Small Business Services offers products such as promotional products, postcards, brochures, retail packaging supplies, apparel, greeting cards and business cards, as well as service offerings, including fraud protection and security, and payroll services. →Financial Services offers various customer acquisition programs, marketing communications services, rewards and loyalty programs, fraud protection and security services, financial institution profitability and risk management services, and a suite of financial technology solutions that integrates receivables, accelerates deposits and payments, and eliminates paper →Direct Checks segment provides fraud protection and security services, as well as package insert programs under which companies' marketing materials are included in our check packages. 3. Forms →Small Business Services is a leading provider of printed forms to small business, including deposit tickets, billing...
Words: 729 - Pages: 3
...experience when consumption was delayed. The experiments further investigated feelings (mood) and attention respectively to support these effects while ruling out perceived quality, absolute paid price and direct sunk cost as possible explanations. In experiment 1, they tested the influence of price promotions and a delay in consumption on overall consumer enjoyment (Hypothesis 1) of chocolate truffles. Hypothesis 1a stated an increase in consumer enjoyment between price promotion and immediate consumption while Hypothesis 1b stated a decrease in consumer enjoyment between a price promotion and a delay in consumption. The independent variables manipulated in this experiment were price discount (price discount vs no price discount) and consumption delays (immediate consumption vs delayed consumption), while the dependent variable observed was consumption enjoyment of the purchased chocolates. The results showed that price promotions enhanced the consumption experience in the immediate consumption...
Words: 2793 - Pages: 12
...________________________ ------------------------------------------------- Summary: Results focused Sales professional with a 5 year proven track record in management of outdoor sales teams. Recognized for the ability to implement marketing strategies within sales techniques to uplift brand awareness and brands’ image. Skillful in finalizing high end sales calls and building up promotional strategies with Modern Trade and Traditional Trade Channels. Acknowledged to enhance strong relationships with Decision makers, key people, and fellow workers through Clients, Principals, and throughout the company. EMPLOYMENT HISTORY Sales Manager May 2012 – Present Gulf Trading Est.- Lebanon Regional Sales Manager Western Province Sept 2011 – May 2012 United Group – Kingdom of Saudi Arabia A Leader in Food industry Manufacturing and distributor of main FMCG in Modern Trade business and Traditional Trade business. Designed and implemented strategies for the largest region for the company. Finalized personally Business agreements with high end accounts like PANDA, Raya Hypermarkets, Bindawood, Danube and others. Expanded traditional trade accounts to include major TT accounts in the region, with concentrating on Remote regions like Taif, Mecca, Medina, South, North. (As Jeddah city had a complete coverage.) I. Responsible of Sales activity of a brand Portfolio of 24 Global Brands with a year target of 33million Riyals such as: PYREX...
Words: 1305 - Pages: 6
...Marketing Strategy Notes for Cravens/Piercy Book Chapters 1-5 Chapter 1- Market Driven Strategy Know the what and why on all of these: Market driven Strategy = the market and the customers that form the market should be the starting point in business strategy formulation. See page 3. What does this mean for the auto business, a restaurant, a college or university, what would they do? Related topics foundational for a market driven strategy: Marketing Concept or Orientation – says that the key to success in business is to identify and satisfy needs and wants of the buyer. The customer is king. This contrast to the production orientation/concept which focuses on how to make the product at low cost, and the selling concept/orientation which focuses on promoting what you want to sell. In the production and selling orientations the company makes what it wants to make and tries to get the consumer to buy it. With the marketing orientation the company first figures out what people want to buy, then makes it, and then tells them about it. Market Oriented/ Market Orientation – see page 4. Means: Customer is focal point of company’s total operations Customer Focus Cross Functional Coordination Competitor Intelligence Result – superior performance Creating Value – must deliver benefits in excess of costs (value), the greater the excess the better. (Auto and college as examples) Note that we can’t do all things for all people: ...
Words: 6532 - Pages: 27
...Marketing Strategy Notes for Cravens/Piercy Book Chapters 1-5 Chapter 1- Market Driven Strategy Know the what and why on all of these: Market driven Strategy = the market and the customers that form the market should be the starting point in business strategy formulation. See page 3. What does this mean for the auto business, a restaurant, a college or university, what would they do? Related topics foundational for a market driven strategy: Marketing Concept or Orientation – says that the key to success in business is to identify and satisfy needs and wants of the buyer. The customer is king. This contrast to the production orientation/concept which focuses on how to make the product at low cost, and the selling concept/orientation which focuses on promoting what you want to sell. In the production and selling orientations the company makes what it wants to make and tries to get the consumer to buy it. With the marketing orientation the company first figures out what people want to buy, then makes it, and then tells them about it. Market Oriented/ Market Orientation – see page 4. Means: Customer is focal point of company’s total operations Customer Focus Cross Functional Coordination Competitor Intelligence Result – superior performance Creating Value – must deliver benefits in excess of costs (value), the greater the excess the better. (Auto and college as examples) Note that we can’t do all things for all people: ...
Words: 6532 - Pages: 27
