The document discusses different marketing orientations that companies can adopt. It describes production, product, sales, societal, and market orientations. Production orientation focuses on lowering costs, while product orientation focuses on product quality. Sales orientation prioritizes selling existing products. Societal orientation considers environmental and social impacts. Market orientation researches customer needs and designs products to meet those needs, taking a customer-first approach.
What is Pricing Strategy and what are the objectives and factors affecting the Pricing Strategy.
There are Certain types of Pricing Strategies as well. Each and every strategy has its own affect on the product and services offered by an organization.
What is Pricing Strategy and what are the objectives and factors affecting the Pricing Strategy.
There are Certain types of Pricing Strategies as well. Each and every strategy has its own affect on the product and services offered by an organization.
The marketing environment represents a mix between the internal and external forces which surround an organization and have an impact upon it, especially their ability to build and maintain successful relationships with target customers.
The marketing environment consists of the micro and macro environment.
Macro environmental factors include social, economic, political and legal influences, together with demography and technological forces. These are sometimes referred to as the PESTLE factors and are discussed in more detail in PESTLE analysis. The organization cannot control these forces, it can only prepare for changes taking place.
Micro environment refers to the forces closely influencing the company and directly affect the organization’s relationships. The factors include the company and its current employees, its suppliers, marketing intermediaries, competitors, customers and the general public. These forces can sometimes be controlled or influenced and are explained in more detail in Porter’s 5 Forces.
Porter’s 5 Forces model is an excellent tool to analyze the structure of the competitive environment. Two important forces are the bargaining power of customers and the bargaining power of suppliers.
Supplier power is represented by their ability to determine the terms and price of supply and will increase if there are fewer suppliers than buyers, if the organization is not a key customer for the supplier, or if their industry is not attractive for suppliers.
Buyer power refers to the pressure that customers exert on companies to obtain high quality products and services at lower prices. Buyer power increases when there are few buyers and many sellers in the field, or when products are not significantly differentiated and can be easily substituted. For the seller, buyers’ demands represent costs. This means that the stronger the buyer is, the less profit available for the seller, which is why many companies try to develop strategies that reduce the power of buyers.
The PESTLE Analysis is a framework used to scan the organization’s external macro environment. The letters stand for Political, Economic Socio-cultural, Technological, Legal and Environmental.
Hey guys, this presentation is all about marketing starting with a crisp and clear introduction and this ppt focusses on all important aspects related to marketing whether be it decision making, marketing process, marketig analysis, marketing utilities, marketing management concepts, marketing planning, traditional & modern approaches of marketing, a full coverage of 7 Ps of marketing mix as well as various important marketing strategy techniques along with relevant diagrams & charts & illutrative examples.
The marketing environment represents a mix between the internal and external forces which surround an organization and have an impact upon it, especially their ability to build and maintain successful relationships with target customers.
The marketing environment consists of the micro and macro environment.
Macro environmental factors include social, economic, political and legal influences, together with demography and technological forces. These are sometimes referred to as the PESTLE factors and are discussed in more detail in PESTLE analysis. The organization cannot control these forces, it can only prepare for changes taking place.
Micro environment refers to the forces closely influencing the company and directly affect the organization’s relationships. The factors include the company and its current employees, its suppliers, marketing intermediaries, competitors, customers and the general public. These forces can sometimes be controlled or influenced and are explained in more detail in Porter’s 5 Forces.
Porter’s 5 Forces model is an excellent tool to analyze the structure of the competitive environment. Two important forces are the bargaining power of customers and the bargaining power of suppliers.
Supplier power is represented by their ability to determine the terms and price of supply and will increase if there are fewer suppliers than buyers, if the organization is not a key customer for the supplier, or if their industry is not attractive for suppliers.
Buyer power refers to the pressure that customers exert on companies to obtain high quality products and services at lower prices. Buyer power increases when there are few buyers and many sellers in the field, or when products are not significantly differentiated and can be easily substituted. For the seller, buyers’ demands represent costs. This means that the stronger the buyer is, the less profit available for the seller, which is why many companies try to develop strategies that reduce the power of buyers.
The PESTLE Analysis is a framework used to scan the organization’s external macro environment. The letters stand for Political, Economic Socio-cultural, Technological, Legal and Environmental.
Hey guys, this presentation is all about marketing starting with a crisp and clear introduction and this ppt focusses on all important aspects related to marketing whether be it decision making, marketing process, marketig analysis, marketing utilities, marketing management concepts, marketing planning, traditional & modern approaches of marketing, a full coverage of 7 Ps of marketing mix as well as various important marketing strategy techniques along with relevant diagrams & charts & illutrative examples.
Dr. V. Ramadevi, Department of Management.ramakarthik
This PPT contains the basic marketing concepts, marketing mix elements, customer value and satisfaction, value chain, strategic marketing planning process, marketing research, marketing environment, CRM.
This ppt would be useful for the management students.
Navigating Business Success A Comprehensive Exploration of Types of Business ...Mr. Business Magazine
In the intricate world of business, understanding the various types of business orientation is paramount for organizations seeking a strategic approach that aligns with their goals and values.
The word Market' has been derived from Latin word VlarketTJs' which refers to the method or place of contact between buyers and sellers. Hence, we can say a market is the place where people gather for the purpose of buying and selling of goods and services. For Example : High Street Markets, Malls tec.
Whereas marketing is an activity of creating, promoting, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large.
Perceived Value
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Know what is required for each discipline of SEO
Feel confident creating an SEO Plan
Confidently measure SEO performance
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• Uncover the power of a foundational marketing system that dynamically communicates with prospects and customers on autopilot.
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2. Until the 1950s, a majority of companies relied on the production
orientation concept. This idea assumed that as long as they produced high-
quality products, businesses would remain profitable. However, in today’s
hypercompetitive global markets, where consumers have a proliferation of
choices, companies have to maintain a competitive edge to beat the
competition.
That’s where market orientation concepts come in.
3. Marketing orientation is the business approach that dictates all the
processes within that organization. It outlines how the company’s
core offering is presented to its users and how the marketing teams
are empowered.
5. PRODUCTION ORIENTATION
A production orientated organisation commonly operates a mass
production model and streamlines this production process for its product
offering. This orientation approach assumes that its customers value
price, and therefore, it focuses on lowering production costs to meet such
price needs of this customer base.
This price is believed to form the main value proposition of the
production orientation organisation’s key offering, focusing its resources
towards operations and positioning its key marketing communications on
price-based messages.
Advantages: Economies of scale, efficiency, low cost to customers.
Disadvantages: Disregards customer needs, set-up costs are usually high.
6. PRODUCT ORIENTATION
This approach to business concerns its products and continually
improving and refining them so that the product can always be superior
to that of its competitors. So, as the previous orientation was centred
around price, product orientation is centred around quality, which often
increases the price.
Advantages: Focus on quality, innovation, skills
development/outsourcing.
Disadvantages: Potential missed market opportunities, obsolescence.
7. SALES ORIENTATION
A sales orientated organisation focuses the majority of its resources on selling its
products and services to its target audience. In a way, it does prioritise its
customers but not in a sense of listening to their needs and wants – it simply
wants to sell to them.
Existing products are usually given to the sales and marketing teams and they
are tasked to finding buyers to those products, wherever and whoever they
may be. Many organisations will feel they are not selling enough of their
products and will, therefore, adopt sales orientated techniques to focus the
organisation on selling more and building on its profit margins.
Advantages: Immediate short-term sales are generated.
Disadvantages: Risks customer confidence, costs, not always sustainable.
8. SOCIETAL ORIENTATION
As people generally become more aware of their environments, the world
and the societies they live within, the societal orientation approach has
emerged, giving organisations a new organisational philosophy.
The societal orientation organisation, considering its product, process and
its marketing, to an extent, focuses on the impact its organisation and
products has within the societies it operates within, as well as the wider
environment.
Advantages: Image is enhanced, appeals to upcoming markets, ethical.
Disadvantages: Marketing message is sometimes distorted, limited
budget.
9. MARKET ORIENTATION
A market orientated organisation looks at the market and its target audience first, before
any production or sales activities takes place, to learn what potential customers want from
organisations. The product or service offering is therefore created with the customer in mind,
resulting in a true customer-first approach.
Market-oriented businesses focus on analyzing the target audience to determine their needs
and design a product to fit those needs. This business model centers everything around what
the customer wants rather than on promotions. Market orientation revolves around customer
satisfaction and reacting to the demands of the customer.
Advantages: Customer satisfaction, loyalty, continual investment in research.
Disadvantages: Reactive, not always innovative, market always changing.
10. Market orientation is more of an approach to product design rather than
promotion. It means that the priority is to analyze the target audience and
determine their needs instead of undertaking any promotional or sales activity. The
needs are kept in mind while developing and upgrading the product offering.
A market-oriented organization uses a customer-centered approach, which means
that the most pressing concerns, immediate needs, and personal preferences of the
consumer base must be researched.
The strategy must be focused on values, culture, and other behavioral traits of the
consumer base. Thus, the development efforts of the organization are focused on
characteristics that are most widely demanded. This enables companies to adapt
to different markets and enhance competitiveness.