Introduction This Essay evaluates how important market orientation is in the age of information. The marketing orientation, or marketing concept, emerged significantly in the latter half of the 20th century. … Abstract The role and importance of various marketing activities within a company is a function of numerous internal and external factors, including those that are typical of transitional economies. A marketing orientated approach means a business reacts to what customers want. GENERAL DETERMINANTS MARKETING ORIENTATION. Such companies make all their marketing strategies with customers at the apex of the pyramid.. Expert marketing advice on Student Questions: Importance Of Marketing Orientation posted by Anonymous, question 15720. importance and role of marketing departments is diminishing, the first objective of this study was to examine the status and role of marketi ng in today’s firms. Rather than trying to get your customers to like or become aware of the benefits of your products or services, with the marketing orientation approach you tailor them to meet the demands of customers. Marketing is very beneficial for the transfer, exchange, and movement of goods. Importance of marketing process and marketing concept According to the United Stated Marketing Association (1985), Marketing is the process that practices valuation, promotion and provides products, services and ideas to create transmission, interesting, satisfying with customers’s targets. Marketing management has obtained importance to meet thriving competition and the need for developed strategies of distribution to reduce cost and to increase profits. Not every organization benefits from a service orientation, but when sales and marketing are more important than the product specs, service becomes the differentiator. Importance/Significance of Marketing Management In the technological arena, marketing management plays a crucial role in a commercial and business enterprise. Marketing management is a process of managing the marketing process of company products. E-business and digital marketing strategies are being largely adopted by all online companies over the globe not only to boost up sales but also grasp the competitive advantage. Marketing is one of the most important things a business can do. The study of the history of marketing, as a discipline, is meaningful because it helps to define the baselines upon which change can be recognised and understand how the discipline evolves in response to those changes. 12. “Good marketing makes the company look smart. → Importance of Marketing Concept. Importance of Societal Marketing: Business is marketing and marketing is business. International marketing not only increases market share and customer base, it also helps the business to connect to new vendors, a larger workforce and new technologies and ways of doing business. Our website is a unique platform where students can share their papers in a matter of giving an example of the work to be done. What is Marketing Management – Orientation: Production, Product, Selling, Marketing and Societal Marketing Orientation. E-business has also become the significant job creator for youths and an important contributor to national GDP. – Jim Metcalf. The Internet und current as well as new emerging technologies (like social networks) have changed the way marketing works. You will have to tell them its specification and how it is going to help them in solving their daily life problems. Thus, you need to realise the importance of marketing You can never sell your product in an empty space. A marketing orientation has been defined as a "philosophy of business management." Great marketing … Customer orientation is a process that companies use to focus on the activities in product sales. Researchers and resources discuss how to market products using emerging technologies but they miss to discuss how to apply a market orientation.… Market Orientation A market orientated company puts the customer at the "heart" of the business; all activities in the organisation are based around the customer. Every company has a different strategy for the customer, for example, a company produces on a large scale that reduces the per-unit cost that will help in sales, and another company focuses on the quality product which leads to sales of that product. There are so many core business functions that stem from a good marketing plan that any SMB would be … or "a corporate state of mind" or as an "organisation[al] culture" Although scholars continue to debate the precise nature of specific orientations that inform marketing practice, the most commonly cited orientations are as follows: Product oriented: mainly concerned with the quality of its product. Not only does marketing build brand awareness but it can also increase sales, grow businesses and engage customers. It is a business discipline that focuses on practical application of marketing orientation, techniques and methods inside enterprises and organizations and manages firm’s marketing resources and activities. Importance of International Marketing. Market orientation is a business approach that prioritizes identifying the needs and desires of consumers and creating products that satisfy them. This concept assumes that marketing begins only when the goods have been produced and it ends with the goods have been sold. Benefits … The service marketing concept adds three key elements to the marketing mix: people, process and physical evidence. When an organization thinks globally, it looks for overseas opportunities to increase its market share and customer base. Market orientation works in the opposite direction to past marketing strategies – product orientation – where the focus was on establishing selling points for existing goods. Marketing research is a systematic process for identifying marketing opportunities and solving marketing problems, using customer insights that come out of collecting and analyzing marketing information. This concept was developed to tackle the consumerism and profit only the motive of business. To understand the evolution of marketing theory, we will investigate … Different elements of marketing mix including strategies of product, price, place and promotions. Marketing is all about interacting with markets, notwithstanding whether it is for profit or for non-profit. If you want to sell your product then you will have to create awareness among the people about your product. The societal marketing concept helps to maximize profits for the organization and creates a long-term relationship with customers. Before the emergence of the marketing orientation, there have been several eras of different views and concepts. To put it plainly, the concept of marketing is imperative on the grounds that it characterizes how an organization will conduct business and thrive. 9. “Don’t be afraid to get creative and experiment with your marketing.” - Mike Volpe. The holistic marketing approach is one of the best means of raising brand awareness through highlighting the core brand values across all platforms. The product orientation concept is an incomplete, inadequate, and impractical concept of marketing because it is not at all possible for a producer to sell his product without considering the needs and wants of consumers. At the same time marketing research has highlighted the importance of inter-organizational relationships for firms’ survival. The management of a company has to decide the type of orientation that a firm should give to its overseas marketing operations. The form and substance of a company’s response to global market opportunities depend greatly on management’s belief or assumption about the nature of the international marketing. Marketing management today is the most important function in a commercial and business enterprise. It expresses that an organization’s essential occupation is to fulfill the needs of the client. The second objective was to The Advantages of Marketing Orientation. Therefore, marketing orientation can bring financial and profitable results for industrial goods of companies. 10. In the paper “The Importance of Marketing Orientation” the author focuses on marketing orientation as a concept, which was developed in the late 1960s and. Societal Marketing is very important to society, the environment, and businesses. on market orientation has shaped marketing thinking. The Importance Of Marketing Orientation 5161 Words 21 Pages The marketing environment of today has changed dramatically and thus companies must effectively devise strategies for responding to, and dealing with this change, while ensuring maximum customer value and satisfaction (McFarlane & Britt, 2007). For example – American organisations investing in Japan have found programs like – Six Sigma and Theory Z which are helpful in shaping their business strategies. The key to having customer orientation is to add as much value as possible to your products.The customers love the company which provides them value. In service marketing, it’s critical to focus on building relationships with customers, differentiating your offerings from competitive businesses and building a loyal consumer base. The ultimate purpose of business, from the point of view of society, is to produce products and render services for exchanging for money by which needs of man can be fulfilled and the needs of society can be looked after. "If you're a good marketing person, you have to be a little crazy." It is mainly based on the demands of the consumers and it works to determine what a company can do to go with what the consumers want. Importance of Societal Marketing Concept. Most studies have supported the view that market-oriented firms have higher innovation and corporate success. EPRG Framework or Orientations Of International Marketing. However, although there are lots of benefits companies can get from marketing orientation, the current implementation of this conceptualization in many organizations is not as good as expected. The decisions taken are based around information about customers' needs and wants, rather than what the business thinks is right for the customer. Important to expand target market; Target market of a marketing organization will be limited if it just concentrate on domestic market. In short, it is doing of same social good. Importance of E-commerce and Digital Marketing. An effective marketing strategy requires market and marketing research, prior to product development and finally an effective promotion strategy. Marketing models have undergone constant development over the past 150 years. Importance of analysing environmental factors for a business. A customer orientation approach means that the company gives a lot of importance to the customer and is a customer oriented company. Importance of Holistic Marketing Brand Building. Importance of marketing for product development and its contribution to achieve business objectives. 11. “The consumer is not a moron; she is your wife.” – David Ogilvy. The mechanics of marketing research must be controlled so that marketers uncover the relevant facts to answer the problem at hand. The importance of optimising race-day nutrition with Crimson Performance Orientation Marketing Race Team’s Matt Hallam and Jo Ryding. StudentShare. A service orientation is a mindset in an organization—a culture more than a process.