We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.
Nobody downloaded yet

An Exercise in Market Orientation - Essay Example

Comments (0) Cite this document
Summary to essay on topic "An Exercise in Market Orientation"
Market Orientation is a business concept where firms organize its activities, products and services around the needs and requirements of its customers. It differs from the two other types of orientation, namely Production and Sales orientation, in focus and processes…
Download full paper
Polish This Essay
An Exercise in Market Orientation
Read TextPreview

Extract of essay "An Exercise in Market Orientation"

Download file "An Exercise in Market Orientation" to see previous pages... Thru the evolution of time, the rudiments became to be more complex as taxes, trade caravans and other forms of business negotiations began to take shape. It does not necessarily follow that our business concepts today are different from past practices. Indeed, some of the elements of modern business and marketing practices that we know of today were actually practiced as early as the time of the Ancient Greeks,
Let us write or edit the essay on your topic "An Exercise in Market Orientation" with a personal 20% discount.. Try it now
the Phoenicians and the Venetian traders. The marketing concept now commonly dubbed as the market orientation finds its first proponent in Adam Smith when he forwarded the notion that the customer should be the focus of the business in the 1700's. However, it was only in the 1960s when the marketing concept was reintroduced. Nevertheless, from a short span of time, it has become the philosophical foundation for marketing academics and practitioners alike.
As we have said earlier, the term 'market orientation' was originally known as 'marketing concept'. There were many who advocated customer satisfaction as the primary objective of business (Drucker 1954, Keith 1960, Levitt 1960). However, the doctrine has been more of an article of faith than a practical basis for managing a business (Day 1994). Thru the works of Kohli and Jaworski (1990), the term 'marketing concept' was differentiated from 'market orientation' with the former being a business philosophy whereas the later refers to the actual implementation of the marketing concept.

1.3 Other Business Orientations

There are other business orientations aside from marketing orientation. These are Sales orientation and Production orientation. Market orientation, however, was tagged as superior among the group. In this paper, we proceed to define what Market Orientation is (i.e. its structures, focus, processes) and compare it to the other business orientations.

2. Comparing Business Orientations

2.1 Definition and Focus
A marketing oriented firm is one where strategic decisions are driven by the wants and needs of the customers. We can only speculate that it is the driving logic behind the formulation of the saying that "the customer is always right". All aspects of the firm are designed to systematically respond and create customer value. Later on in this paper, we will be discussing a market oriented company. (Narver and Slater, 1990)
The concept of marketing orientation was reintroduced and developed in the late 1960s by scholars of the Harvard University with the participation of a number of companies. (Tutor2u.Net, 2006)
A marketing oriented firm has the following characteristics:
Extensive use of marketing research
Broad product lines
Emphasis on a product's benefits to customers rather than on product attributes
Use of product innovation techniques
The offering of ancillary services like credit availability, delivery, installation, and warranty
A production oriented firm is concerned primarily with production, manufacturing, and efficiency issues and was eminent during the 1950's period. The basic notion behind this concept is best expressed by French economist Jean-Baptiste Says who forwarded the notion that 'supply creates its own demand'.
Simply put, the concept revolves around the notion that if a product is made, somebody will ...Download file "An Exercise in Market Orientation" to see next pagesRead More
Cite this document "An Exercise in Market Orientation"
  • APA
  • MLA
  • CHICAGO
(“An Exercise in Market Orientation Essay Example | Topics and Well Written Essays - 2250 words”, n.d.)
Retrieved from https://studentshare.org/miscellaneous/1521586-an-exercise-in-market-orientation
(An Exercise in Market Orientation Essay Example | Topics and Well Written Essays - 2250 Words)
https://studentshare.org/miscellaneous/1521586-an-exercise-in-market-orientation.
“An Exercise in Market Orientation Essay Example | Topics and Well Written Essays - 2250 Words”, n.d. https://studentshare.org/miscellaneous/1521586-an-exercise-in-market-orientation.
  • Cited: 0 times
Comments (0)
Click to create a comment or rate a document
CHECK THESE SAMPLES - THEY ALSO FIT YOUR TOPIC "An Exercise in Market Orientation"
CUSTOMER CENTRALITTY/ORIENTATION
But often than not, not much attention is paid to the fundamental element or entity that make these businesses, organizations and corporations who they are. By this, reference is being made to the customer, who is a very central part of the success and growth of any business, organization or corporation.
12 Pages(3000 words)Essay
Market Orientation
Thus market orientation is the organization-wide generation of market intelligence, dissemination of its intelligence across departments, and organization-wide responses to it (Meek et al. 2007; p.34). Marketing orientation provides organizations with the opportunities to engage in activities aligned towards developing an understanding of customers’ needs and future expectations; these activities also assist in understanding the factors that could affect customers’ needs.
2 Pages(500 words)Essay
Market Orientation
More often, products that have greater emotional quotient with humans are difficult to sell. For example, products related to personal hygiene, birth control, warfare, drugs for terminal illness, and services related to abortion, sterilization, mental illness, funeral, artificial insemination, home health care, etc are few examples of complex products/services (Waller, 1999).
3 Pages(750 words)Essay
Market Segmentation
According to Weinstein (2004), market segmentation usually aims at availing products and services to consumers who are more likely to purchase those goods and services. From a theoretical perspective, marketing conducted by business organization entails employment of appropriate marketing mix within consumer environments.
5 Pages(1250 words)Essay
Market Orientation
Being market oriented means focusing on customers changing needs and wants. This may also leads to product innovation. The goal of this paper is to explain the benefits of adopting market oriented culture and how segmentation strategies benefit a business.
10 Pages(2500 words)Essay
ST. George implements market orientation (p26)
ervice ratings relative to the industry, continuous track record of superior credit quality, product management and product innovation abilities as its strengths (St George, n.d.). The recent credit crunch and the liquidity crisis have hit the financial institutions across the
2 Pages(500 words)Essay
The Impact of Market Orientation, Corporate Social Responsibility
Market orientation is an organization wide set of the activities to researching and responding to the customer needs. The three main ingredients the market orientation includes; customer orientation, cross-functional coordination and competitor focus. Market orientation
4 Pages(1000 words)Essay
Market orientation and sales management
There are three identifying ways of market-oriented companies: 1. They actively find out what the client base wants. Therefore, they will invest in research and surveys
6 Pages(1500 words)Essay
Value Orientation Style analysis
According to Kluckhohn and Strodback Value Orientation Model, cultures can possibly be distinguished from the five ways each respond
2 Pages(500 words)Essay
Market Orientation in Business
The time we  live in can be characterized by not only a high level of globalization, dramatic environmental situation, and global economic crises, but also an extremely competitive market.  As a result of a high level of competition, both big companies and small enterprises need to develop and then implement the most effective marketing strategies.
9 Pages(2250 words)Essay
Let us find you another Essay on topic An Exercise in Market Orientation for FREE!
Contact us:
+16312120006
Contact Us Now
FREE Mobile Apps:
  • About StudentShare
  • Testimonials
  • FAQ
  • Blog
  • Free Essays
  • New Essays
  • Essays
  • The Newest Essay Topics
  • Index samples by all dates
Join us:
Contact Us