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Marketing management orientations

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Marketing management orientations

  1. 1. MARKETING According to charted institute of marketing, Marketing is defined as management process of Anticipating, identifying and satisfying customer requirements profitability. Marketing is all about identifying human and social needs. Stuffs which can be marketed include Goods, services, events, experiences, persons, places, properties, organization, information and ideas. Marketing consist of several objectives including increase sales volume, increase growth rate, increase market share, increase market penetration, maximize return on investment, promote social responsibility and promoting positive company image. MARKETING MANAGEMENT Marketing management is defined as the art and science of choosing targets markets and getting, keeping and growing customers through creating, delivering and communicating superior customer value A good marketing is no accident but a result of careful planning and execution using state-of- the-art tools and techniques. Financial success often depends on marketing ability, Thus finance, operation, accounting and other business function will not really matter if there is no sufficient demand for products and services. MARKETING MANAGEMENT ORIENTATION Marketing management orientations are different marketing concepts that focus on various techniques to create, produce and market products to customers. The management usually focuses on designing strategies that will build profitable relationships with target consumers. Marketing strategies are guided by philosophy Organizations use marketing orientations as a basis for their marketing campaigns. There are five main marketing management orientations which are as follows
  2. 2. 1. THE PRODUCTION CONCEPT This is one of the oldest concepts in business. The concept holds the belief that consumers desire, favours and prefer products at low prices which are affordable and available. The production management needs to create products focusing on achieving high production efficiency, low costs, and mass distribution as a marketing strategy. 2. THE MARKETING CONCEPT The marketing concept emerged in the mid-1950s as a customer-centered, sense-and respond philosophy. The marketing concept holds that the key to achieving organizational goals is being more effective than competitors in creating, delivering, and communicating superior customer value to the target markets. The job is to find the right products for customers, thus the market strategy focus on buyer’s needs and producing what a company can sell. Implementation of marketing concept focus on three main basic elements of marketing which are customer orientation, company commitment and goal orientation. 3. THE SELLING CONCEPT The selling concept is based on the belief that consumers and businesses will not purchase products from companies or won’t buy enough of the organization’s products without aggressive selling and promotional efforts. The purpose of this concept is focusing on selling what the company creates rather than focusing on making what the consumer wants (what the market wants) during implementation. Managers usually focus on creating a comprehensive advertisement campaign to coax consumers into purchasing their products.
  3. 3. 4. THE PRODUCT CONCEPT The product concept proposes that consumers favor products offering the most quality performance, or innovative features. Implementation of the product concept focuses on producing superior products with innovative features that are normally improved over time to meet the customer expectation. 5. THE SOCIETAL MARKETING CONCEPT The societal marketing concept focuses on delivering value to customers in way of maintaining or improving consumers and society wellbeing. It looks on the interests and needs of the targeted consumer market. So there are three considerations underlying this concept which are Consumers satisfaction, society’s welfare and company’s profit. IMPORTANCE OF MARKETING MANAGEMENT ORIENTATIONS 1. To meet customer needs more effectively. 2. To avoid strategic mistakes. 3. To uncover opportunities before competitors. 4. To achieve higher customer satisfaction. 5. To implement emerging technologies in the concept of marketing orientation.
  4. 4. REFERENCES http://www.ehow.com/info_8469688_five-different-marketing-management-orientations.html (Accessed on 15th Nov 2014) http://thinkcreative30.wordpress.com/2012/08/25/how-important-is-a-market-orientation- in-the-digital-age/ (Accessed on 15th Nov 2014) Marketing management (14th edition) by Philip Kottler BWEMELO S.G: Marketing management student learning guide

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