The author now discusses the concepts of various marketing processes.
➢ Production Orientation and Marketing Orientation
Production Orientation Marketing Orientation
Definition
‘Production orientation describes a company which makes what it thinks the customer will buy. It may make good products but will not take the trouble to find out whether there is a market for them.’ ‘A marketing-oriented business starts with the customer, and the business environment. The organisations find out what the customers want, and produces it for them.’
Meaning Till the end of 18th century, production orientation was the accepted way of marketing. Companies or organizations didn’t think once about the requirements of their customers, or what kind, type,
…show more content…
➢ Exchange Relationship – the consumer and the organization.
‘Without customers, you don't have a business.’
To have an exchange relationship there should be an involvement of two parties. It's basically a strategy used in marketing to nourish consumer's loyalty, gaining his trust and engaging him with the organization for a long period of time. This relationship between an individual and an organization is maintained by exchange of goods or services or money.
For example, the consumer goes into a grocery store and shops for Cadbury chocolates. After the shopping the consumer goes towards the billing counter to pay for the chocolates, with money, in the form of cash. The price paid that is written on the product is the amount equivalent to the product’s worth. It’s a simple exchange of money and goods, having an equal value.
➢ Value and Satisfaction
Customer satisfaction is one of the essential elements of a successful business.
Usual steps to learn about customer satisfaction can be - surveying about the quality of the product, surveying about the pricing of competing products in the market, and the choice of the consumer over those
…show more content…
Latest automobiles, IT & technology are being out-dated in a year, and demand for something new each time is increasing at an exceedingly faster rate.
Previously, marketing purely meant exchanging of goods, selling of the product. In today's world its major focus is on making a customer feel better when he has made a choice of purchasing the product.
Earlier Cadbury used to sell Bournvita in small sachets but currently it markets the product in different packets and bottle sizes in quantity ranging from 500 grams – 1 kg, according to the customer requirement of its daily consumption. Apart from product size, Cadbury has changed its packaging style over the years to appeal the upcoming generation. Previously, the packaging of the chocolate had simple red letters on it showing the words “Cadbury Dairy Milk Chocolate” on them. Gradually, it developed its packaging design and layers by adding its trademarked purple colour, and foil packaging along with sealed plastic cover to keep the products fresh and hygienic for a longer period. According to different products, it’s packaging also differs. For example, for Gems, the packaging is designed as such to appeal kids and the younger generation, and for Silk/Bourneville/Temptation, the packaging displays richness and
(A) Marketing- the management process through which goods and services move from concept to the customer. The main purpose is to increase sales of the project and profits of the company.
A characteristic of the marketing concept is customer orientation. Business activities are mostly engaged to produce a satisfied customer. They are there to Stress on the desires and wishes of a customer this keeps businesses on track with their target market. The best marketing decisions are completed on the foundation of making a massive impact in the market and towards customers. The consumers/people
Marketing is that broad area of business activity that directs the flow of services provided by the carrier to the customer in order to satisfy customers’ needs and wants and to achieve company objectives. Marketing is more than selling: it involves a number of business activities, including forecasting, market research and analysis, product research and development, price setting, and promotion, including advertising. Marketing also involves the finance activities such as credit and collection that are associated with ticket sales. Marketing is customer oriented…Without marketing and sales, there would be no airlines. (p. 274)
I found the main goal of the article to explain the concept of marketing. As the author implies, the concept of the marketing mix is a great tool to give an answer to the question “what is marketing”. It is a great introduction of the elements of marketing as a whole, with visual charts that sum the different marketing forces. Marketing is not about doing or not doing, its mainly about doing the right things for your operation with consideration of the resources that are available. This also sheds light over the fact that managing functions of marketing must be oriented to the market and with consideration of the marketing changes make a marketing mix that fits the resources of the firm.
Marketing oriented companies are ones that allow the wants and needs of consumers and potential customers to drive the firm's tactical decisions.
Marketing In this day and age is vital for a company to perform at its possible best. Marketing’s main focus is to give great satisfaction to a customer. There are many aspect of marketing, these aspects give marketer’s the tools to help strive for the best possible success they can achieve. They hope that they can create exposure for their brand, product or service.
Marketing is a core pillar of an organization and contribute significantly in its prosperity through attaining the laid down targets as well as scope of development. The position of an organization is hugely based on its competitiveness and capacity to capture a significant portion of the market in relation to the prevailing needs of consumers. Interaction of the organization with the consumers and the potential consumer in the market arena is attained through the marketing wing of the organization (Ferrell& Hartline, 2012). The preferences of the consumer and avenues of satisfaction are aligned to the established marketing frameworks. However, the success of organization marketing is highly inclined to the marketing strategies formulated and adapted towards coping with competition and eventually enhancing firm competitiveness.
The text states that marketing is both an art and a science where constant tension exists between the formulated and creative sides. At its essence, marketing is about "identifying and meeting human and social needs". It encompasses both a set of actions which seek to identify customers' needs as well as a social process of establishing a relationship with the customer to buy their products; this relationship is vital to the long term success for a company and a critical part of the marketing equation (Kotler & Keller, 2006).
With the rise of the economy, consumers have become more and more knowledgeable on selecting their favourable product as a result the organization cannot focus on what it sells but on the side focus on what the customer wants to buy.
The production concept is one of the oldest marketing concepts. It relies on the consumers preferring products that are widely available and inexpensive. Managers who use the production concept concentrate on achieving high production efficiency, low costs, and mass distribution (Kotler & Keller, 2012). In comparison, the holistic concept which includes not
the business activity of presenting products or services to potential customers in such a way as to make them eager to buy. Marketing includes such matters as the pricing and packaging of the product and the creation of demand by advertising and sales campaigns.4
For a marketing orientated business, the findings from any research will be put to use primarily to aid the business in satisfying the needs and wants of its customers; this type of business has become more popular since 1970, where prior to this business’ were production orientated (until the 1950’s) where the business was concerned with improving its distribution methods, and product orientated (until the 1960’s) where the business’ main concern was the product rather than the satisfaction of the customer. The idea of a marketing orientated business has been explored by Fahy and Jobber (2012) who concurred that a market orientated business is one that considers its customers and the external environment to be an intricate part of the business; This type of business will explore the different aspects of the external environment, and take from its observations ways in which it can continue to trade in an effective, profitable way. A marketing orientated business will also use its findings to help it take advantage of any opportunities in a market and to lessen any threats that could be...
The marketing orientation has become common in companies that make things for individual customers. It remains rare in heavy industry that produces steel, coal, oil, and paper, where the immediate consumers are other businesses. The transition from the production orientation to the marketing orientation is still going on. It is the most important but least understood revolution in human history, marking a decisive power-shift from institutions to individuals. In the production orientation, human enterprise asked first what we could make, and second whether anyone will want it. In the marketing orientation, we ask first what we want, and second how we can invent the means to fill that want. Production made people technology’s servants. Marketing makes us technology’s masters.
As shown in Figure 1 there are many different definitions for Marketing. The key is that they all share a common theme, marketing is: “Meeting the needs and wants and providing benefits for customers.”
According to David Jobber (1995), marketing- oriented organization endeavor to create customer value with a specific end goal of attracting and retaining customers. Their main aim is to deliver better esteem to their targeted customers. In doing as such, they actualize the advertising idea by meeting and exceeding customer’s needs better than the competitions.