Business: Market Orientation Essay

Business: Market Orientation Essay

Length: 2535 words (7.2 double-spaced pages)

Rating: Research Papers

Open Document

Essay Preview

The world population, from day to day, has been increasing progressively which makes the market demand becoming greater. Nowadays, responding to the globalization and the life in an innovative world, the demand of people is becoming wider and more various. Meanwhile, a huge amount of businesses have been created in order to fulfill those demands. The increment of global economy has been providing more and more choices to consumers. From these consequences, the market becomes more and more competitive for businesses as well. Thus those businesses must be adapting their market orientation in order to stay in competitive market, otherwise, they could not be able to stand in the market; or in other word, their business operation will be bankrupt or running unsuccessfully. According to Kolter, Keller and Burton (2009, p. 18), the companies which practice market orientation approach are likely to be the most successful . Indeed, the company orientation towards the marketplace could be done through many concepts such as production concept, product concept, selling concept as well as marketing concept. Market orientation is a business approach or philosophy that implements the marketing concept by focusing on identifying and meeting the stated or hidden needs or wants of customers. The concept of Marketing orientation was developed in the late 1960s and early 1970s after selling concept and production concept. Meanwhile, this concept replaced the previous sales orientation which was dominated between the mid-1950s and the early 1970s, and the production orientation which was prevailing before the mid-1950s. Market orientation is developed by market-driving through producing the right product at the right price at the right time. The most...

... middle of paper ...
Jonh C. Narver and Stanley F. Slater (1990), “The Effect of a Market Orientation on Business Profitability”, Journal of Marketing, (October), retrieved from weitz/mar7786/Articles/narver%20and%20slatter.pdf
George S. Day (1994), “The Capacities of Market-Driven Organizations”, Journal of Marketing, (October), Vol.58, 37-62

Need Writing Help?

Get feedback on grammar, clarity, concision and logic instantly.

Check your paper »

The Relationship Between Market Orientation and New Service Performance

- Abstract: The empirical results of the relationship between market orientation and new service performance are mixed, implying this relationship is more complicated than expected. To respond to this call, this study takes a component-wise approach to investigate how three market orientation components contribute to new service performance by way of two service innovations, and also examine how three environmental factors interact with each market orientation component to affect service innovation....   [tags: Business Management ]

Research Papers
1093 words (3.1 pages)

The Market Orientation of Coca-Cola Essay

- The Market Orientation of Coca-Cola I had researched the information by contacting the Coca-Cola's customer service help-line for an information pack and by contacting The Coca-Cola Company's Industry and Consumer Affair's officer (Alneka Warren) by email. I have also visited the Business library for further information relating to Coca-Cola and used various textbooks and various web sites from the internet. The two marketing orientations are: 1. Product orientation 2. Market orientation Product orientation This can be defined as "An approach to business which places the main focus of attention upon the production process and the product itself" (Needham & Dransfield 1995)....   [tags: Business Management Studies]

Research Papers
763 words (2.2 pages)

Market Orientation Essay

- Marketing can be define as “the process of creating, distributing, promotion and pricing goods, services and ideas to facilitate satisfying exchange relationships with customers in a dynamic environment” (Pride et al. 2007). Marketing concept shows an organisation always try to provide goods and services to satisfy consumers’ needs and wants. It may help the organisation to achieve their goals. The evolution of marketing concept is from production orientation to sales orientation, continuously it becomes market orientation and societal market orientation (Pride et al....   [tags: Business Marketing]

Free Essays
1392 words (4 pages)

The Effects of Market Orientation and Service Innovation on Service Industry Performance: An Empirical Study

- Abstract This study examines how market orientation affects a firm's service innovation and consequently, the firm's market and financial performance. The findings indicate that if firms use customer orientation, the firm is more likely to adopt incremental service innovation, while if a firm uses competitor orientation, the firm is more likely to adopt radical service innovation. Finally, incremental and radical service innovations lead to greater market performance and in turn, greater financial performance....   [tags: business, marketing]

Research Papers
1964 words (5.6 pages)

Marketing Orientation : A Market Orientation Essay

- Cultivating Market Orientation Listening to Customers and Employees The key aspect of a market orientation is listening to customers by including their desires and concerns into the company’s decisions. While businesses have varying degrees of interaction with their customers, all create a product or service to market to a customer. Consequentially, this business orientation can lead to multiple benefits for an organization to include “increased customer satisfaction and loyalty, higher finical performance, and improved new product creativity” (Reed, Goolsby, & Johnston, 2016b, p....   [tags: Decision making, Management, Customer service]

Research Papers
860 words (2.5 pages)

Essay about Customer Orientation And Customer Diversity

- As the economy grows sustainably, Customer market continues to expand, which causing more and more people will pay close attention to customer needs and consumption. Standing direction of the enterprise and producers, the overriding goal is to pursue the highest profits in consideration of elements such as Capital, technology and customer awareness. Since the the customer is the most important consumer about the product, as well as the resources of customer remain one of the leading factors that are considered when companies make decisions in the market to get high market profits....   [tags: Marketing, Customer, Customer service]

Research Papers
1120 words (3.2 pages)

Essay on Customer Orientation for Business Success

- This paper will begin by discussing the marketing concept of customer orientation towards the success of a business. The meaning of adopting a customer orientation will be discussed thoroughly while highlighting the implications by featuring an organization in the said industry. Strategies to achieve success in the market by integrating and responding to the market’s demand will be addressed thorough out this paper. The relation between customer orientation and resulting in customer value creation and increasing brand awareness will be pointed out....   [tags: marketing strategies, ]

Research Papers
985 words (2.8 pages)

Identifying a Target Market Essay

- Introduction This report will provide a market target analysis of Hanndia Pest Control Service Pty Ltd. Hanndia Pest Control Services, specialise in working with real estate agencies to manage white ant infestation of rental properties, by applying an environmentally friendly fumigation barrier. The main office is located in the Brisbane City council suburb of Calamvale, South Eastern Queensland, with a total of 20 employees. This includes the manager, field officers and administrative support. The purpose of this report is to identify the market target for Hanndia Pest Control Services....   [tags: Business Analysis Market]

Free Essays
1764 words (5 pages)

The Asian Market Essay example

- Nowadays, emerging markets are becoming more and more attractive for multinational companies. Particularly the Asian market, headed by China, represents an enormous potential. Asians consumers are motivated by a complex range of cultural factors and are becoming more interested in pursuing brands to experience their reputation, to stand out from the crowd or to create new trends of a modern high-class lifestyle in purchasing items of established, mostly western brands. Especially the uprising group of young urban professionals, the so-called Yuppies, is eager to spend big amounts of their comparatively high income on upscale brands....   [tags: Business International China Market]

Free Essays
1284 words (3.7 pages)

The Impact Of E-Business Essay

- INTRODUCTION: In this write up the focus is mainly on e-business. It consists of critical discussion and analysis of the impact of adopting e-business orientation. It also contains relevant information on the current state of e-business market. The report also talks about the differences between, advantages and disadvantages of e-business and e-commerce. Recommendations and advice have been given in the end for businesses intending to adopt an e-business dimension. DEFINITIONS OF E-BUSINESS AND E-COMMERCE: The terms e-business and e-commerce are closely related but have some elements of differences between them....   [tags: Electronic Business Ebusiness]

Free Essays
1822 words (5.2 pages)