Market Orientation

Topics: Marketing, Supply and demand, Strategic management Pages: 13 (3947 words) Published: July 15, 2013
Executive Summary

Marketing is one of the most interesting and challenging subject to be studied. In either undergraduate or graduate degree, it does make any difference. Likewise, in this paper a subject of being market orientation is being discussed. According to many experts and studies, there is no clear cut definition to Market Orientation. The reason is that the term is very broad and subjective due to its practices and sophisticated world of human. However, there are still basic criterions for such term. And such criterions are like being responsive to knowledge of the market, understanding of customers’ needs and wants, and more as discussed inside this paper. In fact, this paper has brought up quite a few ideas from different experts concerning what the basic criterions should be. To make the matter more interesting, inside this paper there is analysis between real subject and the concept presented by the experts in this field of marketing. The subject of this paper happens to be a commercial bank operating in Cambodia, and it is pretty well-known for its aggressive marketing strategy. Last but not least, there is also recommendation given in the last section of this paper as well. Recommendation is given based on the weakness found in analysis section, and it could be either for the concept of the experts themselves or the subject of this study.

Acknowledgement

First and foremost, I would like to thank to my instructor of this subject, Mr. Ravivk for his effort, valuable guidance, and time. His effort and understanding have made it easy for me to get this assignment done in the name of academic achievement. Moreover, such assignment of his has pushed me to another level of becoming a better student and better employee.

Besides, I also would like to thank to ACB staffs and ACB Bank, which is the subject of my study later on in this paper, for giving me the opportunity to understand about bank and making it very convenient for me to conduct my research for this assignment.

Last but not least, I would also like to thank to my beloved parent for giving me support financially and mentally on daily basis. Their unconditional love and cares have just never been exhausted for me. Likewise, a very big thank is also given to my lovely fiancée.

Table of Content

i. Executive Summary

ii. Acknowledgement

iii. Table of Content

❖ Part1: Introduction

1. Objective of Report

❖ Part2: Finding

❖ Part3: Analysis

❖ Part4: Conclusion

❖ Part5: Recommendation

iv. References

Part 1: Introduction

So far, by looking at the history of business world it is very obvious that there has always been up and down in terms of growth. Some start from scratch and become a giant corporation, and some are quite unfortunate and collapse in a number years. All these matters have been well remembered, documented, and used as a guide for later generation. In fact, many studies and arguments have been conducted and come up with lots of factors that are believed to be the causes of the failure or success. Mostly, the end result often points to goodness or badness of financing, corporation structure, fraudulence, or management strategy. The result is quite convincing. Yet, the only one that seems to be the very problem needed to be primarily looked at is the management strategy. Management strategy is so important that it deals with the broad aims and policies of the each firm. It, in fact, is the very few activities that could bring competitive advantage over the competitors. Actually, management strategy could come in as many forms and pictures. It is up to the individual firms to decide. Since the main focus of this paper is marketing strategy; as a result, “Market Orientation” as management strategy will be used as the topic for further discussion in this paper. To some very well-educated people like Prof. Theodore Levitt, Glen L. Urban, and John R. Hauser,...
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