By offering more products to more people, in more markets than any other sports company, they are able to capture a far greater market share of the market than any other company. Like most leaders in the market, Nike values the consumer and the importance of providing a quality product. The 5 marketing management orientations are production concept, product concept, sales concept, marketing concept and social marketing concept.
Production concept assumes that customers will want to buy products or services that are easily available and affordable. Having a marketing strategy uniquely designed for the company has given it a huge boost at increasing global brand recognition.
Companies with a marketing orientation are commonly called customer-centric, but companies with a product orientation are called product-centric.
One difference is that marketing-oriented companies make marketing research and responding to customers the focus. The market is a process which sets the price of the product with demand and supply forces. Conversely, Marketing is a process which analyses, creates, informs and delivers value to the customers. The concept of marketing is wider than the concept of a market.
The market varies by product, place and other factors. Five orientations philosophical concepts to the marketplace have guided and continue to guide organizational activities:. An organisation focus and subsequently its marketing is centred around five key categories, classified into the following orientation groups: Production orientation, product orientation, sales orientation, societal orientation and market orientation.
The concept of market orientation has put its onus on target customers and not on convincing sales tactics. For example, if a restaurant finds that most of its customers are interested in eating pizza, it will try to create and serve them as per the demands of its customers and not try to convince them to try a burger. You can orient your business toward one or both but, in general, most marketing-oriented companies have the market as at least one focus.
Market-oriented companies, on the other hand, may not be oriented toward the discipline of marketing. They can be market-oriented but have no other focus for their activities. Marketing is the way a company interacts with current and potential customers. You can think of it as the communication arm of a business — gathering information from and sending out messages to customers.
And they believe that people are the main strength of the company. Build a reputation as the expert in your field through your blog posts, books, videos, training and other information products.
Market-oriented is a phrase used both in business and economics. When used in a business context, market-oriented has a similar meaning to marketing orientation. However, when used in economics, market-oriented describes an economy with a free market where companies can sell products and consumers can purchase them with minimal regulation. A market-oriented economy is one where the marketplace itself dictates which companies perform well and which may fail.
According to Orientation Marketing , a company can choose to prioritize its actions in five distinct ways. The first of these is production orientation, which focuses on the price of products. In production orientation, the business decides that the price of the product is the main driver of value.
Next, is product orientation, which prioritizes constantly improving a product to provide superior value. Where production orientation looks at producing goods in quantity to lower the overall price, product orientation looks at improving quality to provide the best product no matter the price.
Sales orientation focuses mainly on making sales. While this may sound like a good approach, it means the company is only interested in selling. There is little evaluation of the value of the product or the customer base. Companies consider their ethical impact on the community, the environment, and how their methods and products can improve lives and conditions.
This can be a challenging method to sustain, as it must compete with companies that use other orientations. Marketing orientation looks first and foremost at the product market.
Based on feedback from customer service and other sources, a marketing-oriented company will improve the product and adjust its marketing strategy.
Bert Markgraf is a freelance writer with a strong science and engineering background. He started writing technical papers while working as an engineer in the s. More recently, after starting his own business in IT, he helped organize an online community for which he wrote and edited articles as managing editor, business and economics. What Is Sales Force Organization? Share on Facebook. Customers Markets consist of consumers, competitors and regulatory organizations.
Selling Selling means persuading consumers to buy your product. Products Market-oriented companies know what the customers want, but they may or may not focus on products and manufacturing. Customer Service Whether you are in a market-oriented company or a marketing-oriented one, your primary goal in customer service is to ensure that customers are satisfied.
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