The 5 marketing management orientations are production concept , product concept, sales concept, marketing concept and social marketing concept .
The different types of marketing orientation are as follows: Sales orientation . Market orientation . Production orientation . Societal orientation .
Marketing orientation means a company operates with a market – or customer-first approach. Market oriented is used in marketing , but it more typically describes a free enterprise economy where businesses and consumers are able to buy and sell freely.
Market Orientation Increases Customer Satisfaction and Loyalty. Paying attention to the customer increases loyalty and leads to repeat sales. Brand loyalty creates a customer base that will be resistant to attempts by competitors to steal your customers by offering lower prices or special introductory incentives.
A company using market orientation invests time researching current trends in a given market . For example , if a car company engages in market orientation , it will research what consumers most want and need in a car rather than produce models meant to follow the trends of other manufacturers.
These seven are: product, price, promotion, place, packaging, positioning and people. As products, markets, customers and needs change rapidly, you must continually revisit these seven Ps to make sure you’re on track and achieving the maximum results possible for you in today’s marketplace.
Characteristics of marketing orientation Marketing oriented firms make the customers their focal point. Marketing oriented firms spend considerable amount of money in staff training and development so that better customer service can be provided. Marketing oriented firms focus on new product development. There are a number of benefits of marketing orientation .
Marketing objectives are a brand’s defined goals . They outline the intentions of the marketing team, provide clear direction for team members to follow, and offer information for executives to review and support. Marketing objectives are a pivotal part of a marketing strategy .
In the real world, market and product orientation are closely intertwined so that companies like Gillette, Coca – Cola and Travis Perkins, will: carry out market research into what consumers want. organise product research in line with the results of market research.
This said, most markets are moving more towards a market – orientated approach as customers have more and more access to information about what they are looking to buy. Advantages : Customer satisfaction, loyalty, continual investment in research. Disadvantages : Reactive, not always innovative, market always changing.
The marketing concept is the belief that companies must assess the needs of their consumers first and foremost. Based on those needs, companies can make decisions in order to satisfy their consumers’ needs, better than their competition. Nowadays, most companies have incorporated the marketing concept .
Consequently, Ad – lider doesn’t have a clear orientation of launching a new product. ld be considered, this product should be placed noticeable and customer can catch right away.
Because marketing strategies are so important, business leaders will nearly always have a hand in shaping marketing initiatives. These leaders utilize the four principles of marketing as the heart of their business strategies. These principles are known as the four P’s of marketing : product, price, place and promotion.
Social marketing aims to develop and integrate marketing concepts with other approaches to, in turn, influence behaviors that benefit individuals and communities for the greater social good. A plan for implementing a social marketing campaign , will guide development, implementation, and evaluation.