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Marketing Management of Pizza Hut - Research Paper Example

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This research paper describes peculiarities of marketing management, various key aspects related to the concept including the significance of market orientation to the firms, the various components of market orientation, definitions as well as a case study on Pizza Hut…
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Marketing Management of Pizza Hut
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Download file to see previous pages Market orientation helps businesses in applying this basic doctrine and assists the firms in realizing its overall organizational goals and objectives.
The current business environment is highly competitive owing to globalization and liberalization as well as the rapid technological developments which have swept the corporate world, making the business environment all the more intense. Organizations today are vying to attract customer attention through various means, the market orientation being one such tool. In a bid to capture a larger customer base along with retaining the existing ones, the organizations worldwide, are pushed to develop their products through improvisation and innovation, improving their business practices, and enhancing their service delivery, in order to achieve a positive performance and customer satisfaction.
This paper on market orientation discusses various aspects related the concept along with the significance, the probable benefits likely to be accrued by the organizations, the various characteristics or key elements, as well as the implications on overall business performance. In order to substantiate the findings as observed in the literature reviewed, a case study of Pizza Hut UK has been used to demonstrate the manner in which organizations apply market orientation and how it helps in achieving customer satisfaction.
The term market orientation was conceptualized by Narver and Slater (1990) and Kohli and Jaworski (1990). According to Narver and Slater (1990) market orientation comprises three key elements: customer orientation, competitor orientation, and inter-functional co-ordination. The concept also involves two key decision-based criteria: long-term focus as well as profitability. Customer orientation refers to the strengths and weaknesses of the customers, strategies developed to retain the customers for a longer period, as well as assessing the potential of the customers. Inter-functional co-ordination refers to the optimum utilization of the organizational resources by the management with a view to creating superior value for the customers ...Download file to see next pages Read More
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