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Identify the main Characteristics of marketing oriented company?
Wiki User
∙ 12y ago
marketing management in a customer-orientated business
The process of marketing management is about attracting and retaining customers by offering them desirable products that satisfy needs and meet wants.
Marketing management in a customer-orientated business consists of five key tasks summarised in the table below:
Marketing Task
Commentary
Identify target markets
Management have to identify those customers with whom they want to trade. The choice of target markets will be influenced by the wealth consumers hold and the business' ability to serve them
Market research
Management have to collect information on the current and potential needs of customers in the markets they have chosen to supply. Areas to research include how customers buy (which marketing channels are used) and what competitors are offering
Product development
Businesses must develop products and services that meet needs and wants sufficiently to attract target customers to wish and buy
Marketing mix
Having identified the target markets and developed relevant products, management must then determine the price, promotion and distribution for the product. The marketing mix is tailored to offer value to customers, to communicate the offer and to make it accessible and convenient
Market monitoring
The objective in marketing is to first attract customers - and then (most importantly) retain them by building a relationship. In order to do this effectively, they need feedback on customer satisfaction. They also need to feed this back into product design and marketing mix as customer needs and the competitive environment changes
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∙ 12y ago
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What differentiates marketing oriented company from market oriented company?
A marketing-oriented company and a market-oriented company both focus on understanding and meeting customer needs, but they approach this goal in slightly different ways. Here's how they differ: Customer Focus vs. Market Focus: Marketing-Oriented Company: This type of company primarily focuses on its existing products or services and seeks to promote and sell them to customers. They may use market research and customer feedback to refine their marketing strategies, but the core emphasis is on promoting what they already have. Market-Oriented Company: A market-oriented company, on the other hand, places a higher emphasis on continuously studying the market and customer preferences. They are more adaptable and open to changing their product or service offerings based on the evolving needs and trends in the market. They are proactive in identifying emerging opportunities and threats. Product-Centric vs. Customer-Centric: Marketing-Oriented Company: Such a company is often product-centric. They develop products or services first and then create marketing strategies to sell them. Customer needs are considered, but they may not be the primary driver behind product development. Market-Oriented Company: A market-oriented company is customer-centric. They prioritize understanding customer needs and preferences before developing or modifying products and services. Customer input guides the product development process, ensuring that the company delivers what the market demands. Long-Term vs. Short-Term Focus: Marketing-Oriented Company: These companies may focus more on short-term sales and promotional tactics to boost immediate revenue. Market-Oriented Company: Market-oriented companies often have a long-term perspective. They build strong customer relationships and invest in research and development to stay relevant in the market over time. Market Research vs. Customer Relationship: Marketing-Oriented Company: They may conduct market research to identify target audiences and promote products effectively. Market-Oriented Company: Market-oriented companies not only conduct market research but also establish strong customer relationships. They engage in ongoing dialogue with customers to understand their evolving needs and preferences. In summary, while both types of companies aim to satisfy customer needs, marketing-oriented companies tend to prioritize their existing products and short-term gains, whereas market-oriented companies put the customer at the center of their business strategy, focusing on long-term success and adaptability to changing market conditions.
What is the difference between a marketing and sales-oriented company?
Marketing Oriented: Company focus primarily on customers needs and wants based on reliable data. Sales Driven Companies: The main objective is sales and customer's needs are competely ignored
How can a company marketing organization ensure that it is able to identify newly emerging competitors in time to plan and execute an effective marketing strategy in response to these competitors?
How can a company marketing organization ensure that it is able to identify newly emerging competitors in time to plan and execute an effective marketing strategy in response to these competitors?Read more: How_can_a_company_marketing_organization_ensure_that_it_is_able_to_identify_newly_emerging_competitors_in_time_to_plan_and_execute_an_effective_marketing_strategy_in_response_to_these_competitors
What is a marketing oriented company?
A marketing orientated company is one which focuses on the consumer and views that profit maximization is done by conforming to consumer's needs. It puts marketing at the forefront of the company and it becomes the main objective of the company. This is done by market research, consumer surveys, improvement/suggestion boxesMarketing Orientated companies focus on customers needs. Changing needs present potential market opportunties, which drive the company. Marketing Orientated companies get close to their customers so they can understand their needs and problems.A marketing oriented company would be a B2B organization that sells marketing products to other businesses. This can be in the form of services or goods. Goods might be mailers, promotional products, kiosks, etc. while services may be advertisement creation/placement, PPC management, public relations, etc.
Sales oriented vs customer oriented?
Adidas, ibm tese are sale oriented company
What are the main characteristics of a marketing oriented company?
marketing and sales
How does a service oriented company do marketing?
A company whose primary function is to perform labor tasks for customers; as opposed to a PRODUCT-ORIENTED BUSINESS.
What differentiates marketing oriented company from market oriented company?
A marketing-oriented company and a market-oriented company both focus on understanding and meeting customer needs, but they approach this goal in slightly different ways. Here's how they differ: Customer Focus vs. Market Focus: Marketing-Oriented Company: This type of company primarily focuses on its existing products or services and seeks to promote and sell them to customers. They may use market research and customer feedback to refine their marketing strategies, but the core emphasis is on promoting what they already have. Market-Oriented Company: A market-oriented company, on the other hand, places a higher emphasis on continuously studying the market and customer preferences. They are more adaptable and open to changing their product or service offerings based on the evolving needs and trends in the market. They are proactive in identifying emerging opportunities and threats. Product-Centric vs. Customer-Centric: Marketing-Oriented Company: Such a company is often product-centric. They develop products or services first and then create marketing strategies to sell them. Customer needs are considered, but they may not be the primary driver behind product development. Market-Oriented Company: A market-oriented company is customer-centric. They prioritize understanding customer needs and preferences before developing or modifying products and services. Customer input guides the product development process, ensuring that the company delivers what the market demands. Long-Term vs. Short-Term Focus: Marketing-Oriented Company: These companies may focus more on short-term sales and promotional tactics to boost immediate revenue. Market-Oriented Company: Market-oriented companies often have a long-term perspective. They build strong customer relationships and invest in research and development to stay relevant in the market over time. Market Research vs. Customer Relationship: Marketing-Oriented Company: They may conduct market research to identify target audiences and promote products effectively. Market-Oriented Company: Market-oriented companies not only conduct market research but also establish strong customer relationships. They engage in ongoing dialogue with customers to understand their evolving needs and preferences. In summary, while both types of companies aim to satisfy customer needs, marketing-oriented companies tend to prioritize their existing products and short-term gains, whereas market-oriented companies put the customer at the center of their business strategy, focusing on long-term success and adaptability to changing market conditions.
What is the difference between a marketing and sales-oriented company?
Marketing Oriented: Company focus primarily on customers needs and wants based on reliable data. Sales Driven Companies: The main objective is sales and customer's needs are competely ignored
Conclusion on commercial bank?
a new business model which is spreading is that of the marketing oriented consumer products company.
How can a company marketing organization ensure that it is able to identify newly emerging competitors in time to plan and execute an effective marketing strategy in response to these competitors?
How can a company marketing organization ensure that it is able to identify newly emerging competitors in time to plan and execute an effective marketing strategy in response to these competitors?Read more: How_can_a_company_marketing_organization_ensure_that_it_is_able_to_identify_newly_emerging_competitors_in_time_to_plan_and_execute_an_effective_marketing_strategy_in_response_to_these_competitors
What is the difference between a market-oriented sales oriented and a production oriented organisation?
Marketing Oriented: Company focus primarily on customers needs and wants based on reliable data. Sales Driven Companies: The main objective is sales and customer's needs are competely ignored
How is marketing related to other organizations?
Increasingly, marketing is viewed less as a distinct functional unit and more as a set of organizational processes where the entire company participates in organization-wide market-oriented behavior.
What is a marketing oriented company?
A marketing orientated company is one which focuses on the consumer and views that profit maximization is done by conforming to consumer's needs. It puts marketing at the forefront of the company and it becomes the main objective of the company. This is done by market research, consumer surveys, improvement/suggestion boxesMarketing Orientated companies focus on customers needs. Changing needs present potential market opportunties, which drive the company. Marketing Orientated companies get close to their customers so they can understand their needs and problems.A marketing oriented company would be a B2B organization that sells marketing products to other businesses. This can be in the form of services or goods. Goods might be mailers, promotional products, kiosks, etc. while services may be advertisement creation/placement, PPC management, public relations, etc.
Is IBM a sale oriented company?
Now a days every company is sale oriented..
Why do people object to network marketing?
Many people have strong objections to network marketing because of not understanding how to truley identify a legitimate network marketing company, its unfortunate that marketing schems have tarnished the real network marketing companies i.e mary kay amway and others. If a company does not have a product to market and only pays commissions on recruiting that is a dead give away that that is a scam.
Sales oriented vs customer oriented?
Adidas, ibm tese are sale oriented company
