This is generally opposite a product or engineering orientation in which the company's primary focus is on product research and development and market factors are a secondary consideration. Responsiveness Business strategist Martin Roll of Ventrue Republic explains that customer focus is one of the three pillars of a market orientation.
Explain the various elements of the marketing process Marketing Marketing is the social process by which individuals and organisation obtain what they need and want through creating and exchanging value with others.
The marketing process of accompany typically involves identifying the viable and potential marketing opportunities in the environment, developing strategies to effective utilise the opportunities, evolving suitable marketing strategies, and supervising the implementation of these marketing efforts.
There are four key elements of marketing process, environment analysis, and strategy development, the choice of the marketing mix and implementation and control. The Marketing Process Marketing process has several steps and these steps are summarising below: Research into the environment defines the strengths and weaknesses of the Organisation, the competitive forces at work and the macro forces that affect business and what the market actually wants.
Marketing strategy is composed of segmentation, targeting and positioning. The 4Ps- Product, Price, Place and Promotion are the key issues and elements, of the marketing process and this include: There are now considered as the 7Ps of marketing. It is useful for management in order to make sure that the organisation is as efficient as possible in production and distribution techniques.
Product orientation believes that the consumers are mainly interested in the product itself, and they will buy base on the product quality; as the consumers want the highest level of quality for their money. Upload Your Assignment Selling orientation is when an organisation structures its business by focusing on needs that are required for selling to the market.
This means the organisation is more interesting on selling rather than customer needs. It is the opposite of customer orientation. Societal orientation is a business perspective by which a company operates in interest of the society as a whole. For example, a company operates sells food items with ingredients that are sustainably farmed.
Marketing orientation is a business model that focuses on delivering products designed according to customer desires, needs, and requirements.
Further benefits of market oriented approaches are: For that reason, the businesses need to invest constantly in marketing and be more sensitive to their customers and market needs otherwise they will lose sales to their competitors.
Micro Environment Factors The suppliers can control the success of the business when the suppliers hold the power. The resellers if the product the organisation produces is taken to market by third party resellers or market intermediates such as retailers, wholesalers, then the marketing success is impacted by those third party resellers.
For example, if a retail seller is a reputable name then this reputation can be leveraged in the marketing of the product. Price and product differentiation play an important role in order to competition advantage.
Any actions of the company must be considered from the angle of the general public and how they are affected.
The public have the power to help the organisation to reach its goals; just as they can also prevent the organisation from achieving the goals as well.
Macro Environment Factors There are many factors in the macro-environment that will affect the decisions of the Marketing managers of any organisation. Tax changes, new laws, trade barriers, demographic change and government policy changes are all examples of macro — change.
What goods and services does a government want to provide? What extent does it believe in subsidising firms? What is its priorities support?
Political factors can impact on many vital areas for business and products to the market. In the UK, for example, the population has been ageing and these impact on product and distribution methods.
MP3 players, computer games, online gambling and high definition TVs are all new markets created by technological advances. Online shopping, bar coding and computer aided design are all improvements to the way people respond to the marketing offer as a result of better technology.
Changes in temperature can impact on many industries including farming, tourism and insurance. With major climate changes occurring due to global warming and with greater environmental awareness this external factor is becoming a significant issue for firms to consider and these impact on packaging choices and fairtrade.
There are two types of markets: Consumer market is to sell products or services to individual buyer for its own or family use.Costs. A strong market orientation does come with significant costs. Investment in marketing research is high because companies need powerful market intelligence to respond accurately.
Analyse the benefits and costs of marketing orientation for a selected organisation. International Marketing Management LO 1 Explain why firms develop international marketing. Use PESTEL to analyse a chosen foreign market.
Principles of Marketing LO 3 Analyse macro- and micro-economic factors which influence marketing .
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Evaluate The Benefits And Costs Of A Marketing Of Tesco Orientation For A Selected Organisation. you from leslutinsduphoenix.com LO1 Understand the concept and process of marketing explain the various elements of the marketing process evaluate the benefits and costs of a marketing orientation for a selected organisation Marketing .
Nov 13, · b) Evaluate the benefits and costs of a marketing orientation for a selected organisation Production orientation is when a business makes products that are affordable and available. It is useful for management in order to make sure that the organisation is as efficient as possible in production and distribution techniques.
Benefits and costs associated with market oriented approach of TESCO TESCO is top leading retailer in UK. It manages over a thousand supermarkets, hypermarkets, and convenience store in the United Kingdom, Ireland, central Europe, and Asia.