Marketing management orientation is the approach that a company takes to marketing its products and services. There are four main orientations that a company can take: production, product, selling, and marketing. Each orientation has a different focus and can impact the overall success of the company's marketing efforts.
The production orientation is focused on maximizing efficiency and minimizing costs. This approach assumes that if a company produces a high volume of products at a low cost, it will be able to sell them at a competitive price and be successful. While this approach can be effective in some cases, it can also lead to a lack of focus on the needs and wants of the customer.
The product orientation is focused on the quality and features of the product itself. This approach assumes that if a company produces a high-quality product with unique features, it will be able to sell it at a premium price and be successful. While this approach can be effective in some cases, it can also lead to a lack of focus on the needs and wants of the customer and the overall marketing strategy.
The selling orientation is focused on convincing customers to purchase the product. This approach relies heavily on sales techniques and may involve aggressive or manipulative tactics. While this approach can be successful in the short term, it can also lead to customer dissatisfaction and a negative reputation for the company.
The marketing orientation is focused on understanding the needs and wants of the customer and developing a marketing strategy to meet those needs. This approach involves conducting market research to gather information about customers, developing a target market, and creating a value proposition that resonates with the target market. The marketing orientation is customer-centric and seeks to build long-term relationships with customers.
In conclusion, the marketing management orientation that a company chooses can have a significant impact on its success. While each orientation has its own strengths and weaknesses, the marketing orientation is the most customer-centric and sustainable approach. By understanding the needs and wants of the customer and developing a marketing strategy to meet those needs, a company can build long-term relationships with its customers and drive long-term success.
3. Describe the Five (5) Marketing Management Orientations...
. In addition to Coca Cola, other prominent brands under the company portfolio include Fanta, Diet Coke, Coca- Cola Zero, Sprite, Minute Maid, PowerAde, Vitamin Water, among others. Companies using this customer orientation may fail to be competitive if they cannot produce goods at a low cost. It is a crucial stage, and many training sessions are held for employees so that the enterprise can now cater to customer needs. Market oriented firms have greater intelligence generation capacity, dissemination and responsiveness as opposed to non-market oriented firms.
Marketing Orientation-Shifts focus from business goals to consumer wants and needs. We respond to competitive actions that threaten us. Most businesses relied on the production orientation concept up until the 1950s. . Our top managers from every function visit our current and prospective customers.
5 Types of Marketing Management Orientation Explained
Purpose — The purpose of this paper is to better understand how strategic orientation guides the marketing strategy and marketing efforts of niche firms, by addressing the questions of which strategic orientation niche firms apply and how managers in niche firms handle the potential problems associated with different strategic orientations. From the responses of the questionnaire, it is apparent that Coca Cola Company market orientation is relatively moderate. January 11, 2002 4 Strategic Place Marketing 2 The long-term solution involves improving four major marketing factors found in every community. The second approach to market orientation is different from the first. It would help the company towards building a profitable relationship with them. The production concept guides companies to amplify their production and distribution processes.
Four employees with knowledge on the operations of the company provided the information that was used in analysing market orientation of the company. . The 7 Marketing Management Functions The seven marketing functions are the pillars of marketing management. ProjectManager is award-winning software that gives marketers the tools they need to manage their campaigns and advertising pushes. This is the first concept for the long-term growth of the company. Words: 1504 - Pages: 7 Premium Essay Marketing Management Orientations.
What Is Marketing Management? An Essential Introduction
Products play a significant role in how businesses operate, and a focus on products can lead to more innovation within the business. Production Concept This concept based on producing inexpensive products via mass production technique, in the context of this concept it can be seen that consumers always accepting low price products so that the company try to make good mass production and distribution system with minimum cost. . Marketing management orientations are different marketing concepts that focus on various techniques to create, produce and market products to customers. CHAPTER SUMMARY This chapter begins with a definition of market orientation and then looks at its historical development.
What is market orientation? Definition and meaning
Market Orientation Increases Customer Satisfaction and Loyalty. An econometric analysis of brand-level strategic pricing between Coca-Cola Company and PepsiCo. Introduction: Marketing Management and Market Orientation Marketing management and market orientation are vital aspects of marketing for any given organisation, whether non-profit or commercial. Almost every business or individual and use marketing orientations when constructing a brand or marketing position. Benefits of Market Orientation to an Organisation Organisations usually develop market orientation characteristics by exploiting existing range of goods and services offered to consumers. The brand can identify and satisfy needs that may not be explicitly stated by conducting market research, customer trends and needs, and brand customer service history.
They are very easy sources to gather quick information about the people that are. It then investigates the organizational and managerial characteristics of market orientated companies and looks at how market orientation can be implemented. Pricing Marketing management professionals must develop a pricing structure for a business. Plus, engaging positively with your audience is how you build a brand strategy. Based on these findings, managerial implications are discussed. Therefore, Coca Cola market orientation requires the managers to embrace market-oriented approach in their mandate, and the same will be passed on to their immediate subjects.
Which of the five marketing management orientations best applies to FedEx?
. Words: 8461 - Pages: 34 Premium Essay Channel Management Decision. . In short, marketing management is the process of planning, executing, and tracking the marketing strategy of an organization. Polyethnic market orientation and performance: A fast-moving consumer goods perspective.
What Are the Different Marketing Management Orientations?
Dallas is a very good area to advertise the PGA Tour event in because the city attracts close to 20,000 people per week Smith, 2012. Recommendations Despite of Coca Cola Company qualifying as a model successful company, the level of market orientation can be merely regarded average. For example, there are no significant differences between the cars produced by Ford and General Motors in the budget category. Once they perfect the product, it should be easy to sell, right? Kotler and Keller 2012 provide a working definition of the marketing concept. Under this concept, the marketing strategy focuses on continuously improving the product to grow the attractiveness of the product and the size of the customer base. It means that the priority is to analyze the A market-oriented organization uses a customer-centered approach, which means that the most pressing concerns, immediate needs, and personal preferences of the consumer base must be researched.