Each of these factors indirectly affects the company but the company cannot control them. Once they understand what current and future customers want, marketing-oriented companies meet and exceed those desires. Therefore, a regular and systematic marketing research programme is required to keep abreast of the market. Markets are full of people, and these people are often united on certain initiatives. In short, in an integrated marketing setup, all the functions of management are aligned and integrated in tune and tone with marketing variables.
As was proved in the recent history of the automobile industry, the idea that companies can create a product and sell its features to an eager buying public is no longer concrete. Changing needs present potential market opportunties, which drive the company. All the managerial decisions viz. Credit Facilities: Credit is the greatest weapon that makes the people to go in for those products which they cannot easily afford. Changing concept of family: Over the years, the concept of joint family has lost its importance though it has many plus points.
These points of distinction are: 1. They shorten the life of products though they can last longer. Consumer becomes the guide of business. Second, they respond to market feedback. Such a modern day orientation may suit scenarios in which a firm holds dead stock, or otherwise sells a product that is in high demand, with little likelihood of changes in consumer tastes that would diminish demand. In addition, innovation and creativity are necessary to match the products of requirements of customers.
Technological Advancement: The process of science and technology is never ending. The first of these characteristics would be customer orientation, rather than focusing efforts towards a producer convenient outcome, companies must focus on customer satisfaction. So companies are slowly either fully or partially trying to implement the societal marketing concept. Integrated marketing focuses on aligning the messaging, communication, and brand image across a variety of channels, customer groups, stakeholders, and other communications. Under the marketing concept, customer focus and value are the routes to achieve sales and profits. 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. When looking at satisfying consumer needs above the efforts of competi.
They want to pressure you into making a purchase, they are pushy, and they really don't care what ha … ppens after you walk away. It is where customers form the basis of an organisations performance and overall success. A person speaks of car which he used to dream. This company decides to define their brand on perfect efficiency in terms of shipping, complete utilization of recycled goods, large donations to environmental research, and local sourcing. Internal consistency of intention and vision is therefore a critical part of external consistency. The product and the production capacity precede the customer.
Tesco as an organisation is renowned for their constant market monitoring, in other to identify new trends on timely basis. Customer, Customer service, Good 2068 Words 6 Pages Explanation of what a marketing audit is: The purpose of a marketing audit is to review and appraise existing marketing activities and to look at the way the marketing is planned and managed, giving the opportunity for a systematic examination of each element of the organisations current marketing activity and achievements, and to objectively evaluate the effectiveness of the organisations investment in marketing. Product Concept The product concept holds that the consumers will favor products that offer the most in quality, performance and innovative features. Had western union been market oriented, its managements might have better understood the chages taking place, recognizd the competitive threat, and developed strategies to counter that threat. Context analysis, Management, Market research 1115 Words 5 Pages Board Marketing interview questions 1. Here; under this concept, Marketing strategies are focused on making continuous product improvements.
Second, know how to connect with potential customers. The marketing function influences production, finance, and personnel and in turn is influenced by these functions. Marketing orientation is an approach that companies take which centres its activities towards achieving customer satisfaction through effective marketing. Then define exactly what organisational learning is and what impact the characteristics of the mechanistic approach will have on it. This is based on astute individual freedom, supported by education, occupational mobility, migration and self- relevance. Business, Customer, Harvard Business Review 826 Words 3 Pages.
Marketing-oriented customers go to where their target market is and communicate information in a way that will attract those customers. Most markets are moving towards a more market-orientated approach because customers have become more knowledgeable and require more variety and better quality. Economies of Scale in Production-Oriented Organizations During the Industrial Age of the 18th and 19th centuries, production-oriented companies thrived due to both the scarcity and high demand for mass-produced, high quality goods and services. Market Orientation and Sales Orientation Differences The major difference between market orientation and sales orientation is that one strategy looks outward and one looks inward. Third, they create excitement for their products and services. A market orientated organisation endeavours to understand customer needs and wants, then implements marketing strategy based on their market research; from product development through to product sales. This type of orientation involves the organisation making what they think the customer needs or likes without relevant research.
Jobber 2004 states the marketing concept is a business philosophy not just the duty of the marketing department. Hence, this concludes the definition of Sales Orientation along with its overview. At times, market orientation may reveal customer desires that are not cost effective to implement. Now a wrist watch, if it comes to repairs, they exchange or dispose off as a scrap and go for new. Marketing-oriented companies are vibrant, communicative businesses that actively seek ways to understand what their customers want and create products specifically designed for those customers.