Marketing Orientation

Powerful Essays
Topics: Marketing
Index

Abstract: 2

Market orientation: 2

Benefits of market orientation 3

Barriers to marketing orientation 5

Market orientation concept for new business: 6

Effects of market orientation on the existing business: 7

Mass marketing: 8

Role of mass marketing in developing tactical action programmes 8

Advantages of Mass Marketing: 9

Limitations of mass marketing 9

Market Segmentation: 9

Advantages of Market segmentation 11

Disadvantages of Market segmentation 11

Mass marketing versus Market segmentation 12

Conclusion: 13

References: 13

Abstract:

The first half of the assignment deals with the adoption of market orientation as a key principle for guiding the new business as well as the existing one. It gives a clear picture of the role of market orientation in the business industry and how it helps to achieve the business goals and the objectives. The second half of the assignment looks at the advantages and the disadvantages of the mass marketing and the market segmentation. It analyses how both these forms of marketing helps in the business context.

Market orientation:

The needs of the customer have got a great importance in the market oriented business. A market oriented business identifies the needs of the customer and will start the process of production of that service or goods which will fulfil the customer needs. In today’s business environment, the company gives much importance to the consumer and will try to identify the needs and wants of the customer. The company will circle around the customer needs (Williams, 1992)

Market orientation can be described as the organisation’s information on the customer tastes and preferences. Market orientation can be defined as a “set of cross-functional processes and activities directed and created at satisfying the customers through continuous needs-assessment” (Deshpande, 1999).

Market orientation helps the company to know about



References: Baker, J.M. (1995) Companion encyclopaedia of Marketing. London, U.K.: Routledge. Deshpande, R. (1999) Developing a market orientation. Thousand Oaks, California: SAGE. Hart, Norman (1994). Effective industrial marketing. Kogen Page Ltd: London   Jaworski, B.J. and Kohli, A.K. (1996) Market orientation: review, refinement, and roadmap. Journal of Market Focused Management. 1(1), 119-135. Kohli, A.K., Jaworski, B.J. (1990), "Market orientation: the construct, research propositions, and managerial implications", Journal of Marketing, Vol. 54 pp.1-18. Kotler, P (1991), Marketing Management 7th ed. Prentice-Hall International Editions Kotler, P., Armstrong, G Kotler, P. and Armstrong, G (1991), Principles of Marketing 5th ed. Prentice-Hall International Editions Kotler,P and Keller(2006),Marketing Management 12th ed Morgan, N. (1990) Implementing marketing: key issues for professional service firms. Journal of Professional Services Marketing. 6(1), 7-16 Robertson, T.S Slater, S., Narver, J.C. (1992), "Superior customer value and business performance: the strong evidence for a market-driven culture", Marketing Science Institute Report Number 92-125, Marketing Science Institute, Cambridge, MA., . Speed, R., Pulendran, S., Widing, E.R. (2003) European Journal of Marketing. 37(3/4), 476-497. Williams, K. C. (1992) Behavioural aspects of marketing. Oxford: Butterworth-Heinemann on behalf of the Chartered Institute of Marketing and the CAM Foundation. Wong, V., Saunders, J., Doyle, P. (1989), "The barriers to achieving stronger market orientation in British companies: an exploratory study", Proceedings of the 22nd Marketing Education Group Conference, pp.35-64. Web references: www.hp.com (Accessed on 23rd may,2008) http://www.nivea.co.uk/products/intro (Accessed on 20th may 2008) http://www.thetimes100.co.uk/case-study--segmentation--87-232-1.php (Accessed on 21st may 2008) www.12manage.com (Accessed on 22nd may,2008)

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