Marketing in Business Essay

Submitted By Mozkh1
Words: 4093
Pages: 17
Open Document
Product Concept
Philip Kotler et al (2002) describes product concept as the idea that consumers will favour products that offer the most quality, performance and features and that organisation should therefore devote its energy to making continuous product improvements.
Theodre (1975) claims that companies often get it wrong by concentrating on their core products and not understanding the market trend and innovation which leads to ‘market myopia’.

Market Orientation
Marketing orientation is a marketing Management Philosophy which embraces successfully meeting the needs and wants of the target markets and delivering the desired satisfaction more effectively and efficiently than competitors this will help in achieving the organisational goal. Kotler claims this approach understands the needs of the customers better than themselves do.
Marketing concept promotes putting the interests of customers and building a long term relationship with customers by delivering high quality service.

Many global companies have adopted this concept. This concept puts the meeting the needs of the customer has a top priority.

Implementing market Orientation

Figure 1

*

Source : Philip Kotlet Et al

Market orientation requires a strong and decisive lead from the top and a continuous, strategic commitment .Easi-Fixx Limited’s Management team should create an environment for transition from the product orientation to market orientation after carefully outlining the plan. Everyone should be educated about the importance such a move and what benefits both the customers and staff have. Guidelines should be provided to the management about cultural change, should empowering them to initiate and tailor customer value strategies by setting standards for customer satisfaction and other measures of market performance.

Implementation Approaches
Two Main Important approaches such a change
Programmatic and Adaptive are the two main approaches that are outlined by the researchers.
Narver and Slater (1991) defines adaptive approach is empowering individual to achieve results by putting people into new roles or responsibilities.Here new roles are created in the Easy-Fixx limited , New functions created and the easi-fixx’s view of the customers are changed. Easy fixx will develop new understanding and appropriate capabilities in response to market results.
Beer et al (1990) outlines the programmatic approach whereby managers attempts to imbed the market orientation ethic and culture directly to the employees of the Easi-Fixx . Attitude of market orientation in the organization is brought in converting employees by Education, training and communication. More importantly this process the result may not be evident immediately, hence the employees are urged to be patient about the result.
After implementation results evaluation of the results of the activities of the implementation should, if necessary any corrective measures will be taken to make suitable changes in the structures and strategies meet the objectives of the University Plan. Controls and

Businesses should note that while emphasizing one aspect of market orientation over another may favour development of one new product type; it will probably limit development of another. The potential trade-offs should be carefully weighed while developing a market-focused strategy (cf. Lukas 1999).

Because the marketing concept promotes putting the interests of customers first, many researchers consider a customer-focus to be the most fundamental aspect of corporate culture (Deshpande, Farley, and Webster 1993, Lawton and Parasuraman 1980).

A market-oriented business understands the cost and revenue dynamics not only of its immediate target buyers but also of all markets beyond, for demand in the immediate and "upstream" markets is derived from the demand in the original "downstream" markets. Therefore, a market-driven business develops a comprehensive understanding
Show More

Related Documents: Marketing in Business Essay

Business to Business Marketing Essay

Group 10.       Introduction to B2B Market B2B Content Marketing Micro Targeting Rise of Smarketing Predictive Analytics. Paid Placements  Definition:“Business Marketing is the practice of individuals, or organizations, including commercial businesses, governments and institutions, facilitating the sale of their products or services to other companies or organizations that in turn resell them, use them as components in products or services they offer, or use them to support their operations”…

Words 464 - Pages 2

Business: Marketing and Business Essay

Business What is Business? Business is the study of how businesses are set up, financed, organized and controlled, how people are employed, managed and paid, how goods are developed, produced and sold, how goods and services are priced and how the local, national and international government help or hinder businesses.ñ1 In studying the setting up of a business there are many aspects that need to be considered. Such as the type of business ownership which are suitable for the entrepreneur, where…

Words 590 - Pages 3

Marketing and Business Essay

Task 1 (P1) Angel Solakov Describe how the marketing techniques are used in marketing products or services in Tesco and Barnet and Southgate College. There are different techniques that both of these organisations utilise to attract customers to buy their products/services. Or in other words to market their products/services. In order for me to go in depth about these strategies, first I need to explain them. There are various growth strategies. These are strategies used when a company…

Words 867 - Pages 4

Business Marketing Essay

How Microsoft Word Can Be Utilized In Business Marketing INTRODUCTION AND THESIS Many professionals are required to have a working knowledge of some level of computer packages that companies have. The most widely used is Microsoft Word, Excel and Powerpoint. They are very useful in the professional arena for example, Business Marketing, especially to carry out duties such as research projects and daily business. Word is a powerful word processor. It allows you to format…

Words 482 - Pages 2

Marketing and Business Essay

M2: Analyse the marketing opportunities and challenges faced by a selected business when using internet marketing Introduction Businesses can have many opportunities to have access too many things that will make the business more efficient or for the business to have access to new potential customers and new markets. The opportunities for H&M Access The access to new markets is important for a business so that can be able to have opportunities to be able to gain access to their customers and other…

Words 865 - Pages 4

Marketing and Business Essay

Social Media Marketing Strategies Social media is about connecting with the people in your niche: customers, potential customers, people who are interested in what you do, or who share similar interests and circles or hubs with you. It’s about building relationships and networking, not selling, although that does come as a result. Get Out of The Store Business owners with a brick and mortar store need to reach out to a bigger audience online. Social media isn’t new. People have always gathered…

Words 5158 - Pages 21

Marketing and Business Essay

asked to describe the role internet marketing has within a modern marketing context. I have described how the marketing activities of different businesses have been incorporated into internet marketing. Internet Marketing The role of Internet Marketing within a Modern Marketing Context Nowadays technology is developing, as a result more people are starting to use computers more often to shop online, surf the web ECT… and because of this, internet marketing is undertaking an ever greater role…

Words 7001 - Pages 29

Marketing: Marketing and International Business Essay

REFLECTIVE ESSAY: I chose BA in international Business because of the growing globalisation of companies. Business is now a truly international opportunity and choosing to study at Middlesex University placed me in an advantageous position for my career choice. My Father was also an inspiration. Watching him return from overseas with new stock, discussing margins, costs and exchange rates opened my eyes to what business is and the key aspects involved with doing it. My future plan is to take on…

Words 1029 - Pages 5

Business Marketing Essay

Business Marketing – Homework Analyse the possible methods of sampling that could be used to gather information about The Play Zone Sampling is obtaining data from a group that gives a good representative of a larger population. There are two methods of sampling that The Play Zone could use. The first option is convince sampling. The benefit of using this method is that they can easily ask their target audience, potential customers, who are on the waiting list to join The Play Zone, if they…

Words 304 - Pages 2

Business: Marketing and Business Research Essay

Business research is a process that businesses need to perform in order to understand the customers and their buying trends, the industry that they operate in and the competitors. The business research process is a detailed study of products and services that a company offers, by engaging in understanding the customer reactions. The main objective of a business research is to determine what kind of products or services to offer to the customers, how many people would buy them, the markets that the…

Words 491 - Pages 2