Marketing process and its elements (Part 3)

Q. Evaluate the benefits and costs of a marketing orientation for a selected organization

Marketing Orientation

Consumers typically choose products and services that give them the greatest value. The company must develop a way among others to see its market existing and / or potential. It requires, therefore, the adoption of various marketing orientations that are: production orientation, product orientation, sales orientation and market orientation.

·         Production Orientation: In this situation, the company focuses on the efficiency of production, distribution and costs, in order to attract customers to their product / service;

·         Product Orientation: The thought of this approach is that the customer buys the product / service for the satisfaction of his needs. Example, companies in the field of education, information etc;

·         Sales Orientation: Here the prevailing concept is that the customer will not buy as it is not persuaded by a positive method of sale. The focus is thus on sales techniques, rather than on the needs of the customer. Such as insurance companies and banks etc.;

·         Market Orientation: A company that adopts a market orientation is a marketing company that focuses on the needs of its clients. Prospects are radically different from those of production, product and selling. Such as travel companies, supermarkets etc.

The orientation of the business is a marketing strategy aimed at developing competitive advantage of the company seeks to add value to their product / service to satisfy the customer and make a profit (Fifield, 2007). The successful entrepreneur in the adoption of a marketing orientation of its business is able to reinvest its profits in its business and / or even invest in other companies that have an orientation different from his.

Q. Show macro and micro environmental factors which influence marketing decisions

Other factors influencing Marketing decisions

In a competitive environment there are many influences and factors that need to be considered when planning the promotion of a product. First and foremost an important factor that comes into play in this situation is that the product that has been made caters to the need and requirements of the niche market for which it has been manufactured. It is yet again important to mention here that promotion is an integral constituent of the promotional mix that is required for the marketing of a product. When considering the influences of external nature it is important that the demographic and psychographic composition of the target market is well studied and analyzed before the organization initiates its operations in the particular region.