Marketing
A Report on the Principles of
Marketing Orientation
Executive Summary
This report aims to outline the principles of Market Orientation and define the way in which a business unit within Experian (SME) applies these principles to its own marketing strategies. Through reviewing existing market orientation research and the dimensions within market orientation, customer orientation, competitor orientation and interfunctional co-ordination, the report will identify whether Experian SME does or does not apply the key components of a marketing orientated strategy.
Investigative research reveals that although Experian SME has the foundations of applying at least one of the fundamental dimensions of a market orientated strategy, it is not planning on applying some key behavioral components that would mean it reaching a fully market orientated strategy.
Contents
Introduction
4
Experian SME Overview
5
Product Orientation Vs Market Orientation
6
Evolution of Marketing Orientation within Experian
7
Competitors
10
How do companies become more market orientated?
12
Conclusion
13
Bibliography
14
Introduction
Kohli and Jaworski’s (1990, p 1) use of “Market orientation to mean the implementation of the marketing concept” has been widely used in literature regarding marketing orientation e.g. Narver & Slater (1995). However, although the marketing concept did originally emphasise the value of the customer, theorists such as Jobber (2010), Kotler (1977) and Levit (1960) write that market orientation consists of three main behavioral components – customer orientation, competitor orientation and interfunctional co-ordination. They also establish the importance of two decision making criteria – long term focus and profitability.
Using this broadly excepted theory this report will assess the
Marketing Orientation
Executive Summary
This report aims to outline the principles of Market Orientation and define the way in which a business unit within Experian (SME) applies these principles to its own marketing strategies. Through reviewing existing market orientation research and the dimensions within market orientation, customer orientation, competitor orientation and interfunctional co-ordination, the report will identify whether Experian SME does or does not apply the key components of a marketing orientated strategy.
Investigative research reveals that although Experian SME has the foundations of applying at least one of the fundamental dimensions of a market orientated strategy, it is not planning on applying some key behavioral components that would mean it reaching a fully market orientated strategy.
Contents
Introduction
4
Experian SME Overview
5
Product Orientation Vs Market Orientation
6
Evolution of Marketing Orientation within Experian
7
Competitors
10
How do companies become more market orientated?
12
Conclusion
13
Bibliography
14
Introduction
Kohli and Jaworski’s (1990, p 1) use of “Market orientation to mean the implementation of the marketing concept” has been widely used in literature regarding marketing orientation e.g. Narver & Slater (1995). However, although the marketing concept did originally emphasise the value of the customer, theorists such as Jobber (2010), Kotler (1977) and Levit (1960) write that market orientation consists of three main behavioral components – customer orientation, competitor orientation and interfunctional co-ordination. They also establish the importance of two decision making criteria – long term focus and profitability.
Using this broadly excepted theory this report will assess the
Bibliography: ARMSTRONG, J.C, and COLLOPY, F. (1996) “Competitor Orientation: effects of objectives and information on managerial decisions and profitability” Journal of marketing Research, Vol.33, p 180-190 DAY, G.S DAY, G.S and Wensley, R (1983) “Marketing theory with a strategic orientation” Journal of Marketing, Vol. 47, p79-81 DESPHANDÉ, R., FARLEY, J.U (1998) “Measuring market orientation: Generalization and Synthesis” Journal of Market Focuses Management Vol JOBBER, N (2010) Principles and Practice of Marketing, 6th Edition. Berkshire: McGraw Hill KOTLER, P (1977) “From sales obsession to marketing Effectiveness” Harvard Business review, p 67-75 KOTLER, P (1984) Marketing management: Analysis, planning and control. Englewood cliffs: Prentice Hall LEVITT, T (1960) “Marketing Myopia” Harvard Business Review, Vol NARVER, C (1990) Journal of marketing, October 1990. NARVER, C (1995) Journal of marketing, July 1995