Marketing in Business Essay

Submitted By Mozkh1
Words: 4093
Pages: 17

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…