Market Orientation - Essay Example

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Running head: marketing Market Orientation Immense competition as a consequence of changing customer needs and access to global markets has led many organizations to become marketing oriented. Organizations use market information for planning and implementing strategies in accordance with market, such as new product development, competitors’ performance and movements, making alliances, exploring new markets, bringing investors etc…
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Market Orientation
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Download file to see previous pages Different departments within the organizations are completely oriented towards identifying and designing methods to meet these changing customer demands. According to Naver and Slater (1990), organizations that follow marketing orientation tend to follow five key strategies namely customer orientation, competitor orientation, interfunctional-coordination, organizational culture and focus on long-term profits. Most well-known market-oriented organizations are Sony, Dell, Toyota, General Electric, etc (Day, 1999). These organizations are customer-focused and use marketing information to develop strategies that enhance customer satisfaction. Several benefits have been identified with market orientation. A market-oriented firm can focus and retain its loyal customers that are of more value to the firm’s business. These firms usually have higher employee satisfaction because of greater customer satisfaction and vice versa. This further enhances employee commitment and their productivity. ...Download file to see next pagesRead More
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