Business: Market Orientation Essay

Business: Market Orientation Essay

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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...


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...tp://www.tutor2u.net/business/marketing/marketing_orientation_structures.asp
Jonh C. Narver and Stanley F. Slater (1990), “The Effect of a Market Orientation on Business Profitability”, Journal of Marketing, (October), retrieved from http://bear.warrington.ufl.edu/ weitz/mar7786/Articles/narver%20and%20slatter.pdf
https://www.inkling.com/read/strategic-marketing-cravens-piercy-10th/chapter-1/market-driven-strategy
George S. Day (1994), “The Capacities of Market-Driven Organizations”, Journal of Marketing, (October), Vol.58, 37-62
http://www.acledabank.com.kh/kh/eng/index.php
http://www.acledabank.com.kh/kh/eng/bp_sustainabilityreport.php
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