Market Orientation Philosophy of Identifying the Unsaid Desires of Customers

What Is Marketing Philosophy For Identifying The Unsaid Desires Of Customers?

Marketing philosophies or marketing concepts are the philosophies that are inspired the businesses for guiding their marketing efforts of the business. In simple terms, marketing concepts are related to the philosophy that businesses use for identifying as well as fulfilling the demands and needs of the customers, which will benefit both the company and the customers as well. However, some of the philosophies related to marketing cannot result in the benefit for every business. Therefore, different businesses should use different marketing concepts which are known as a marketing management philosophy. Marketing philosophy can be driven by clear objectives such as product quality, customers demand fulfillment, cost efficiency, and so on. The implication of the marketing philosophy is very significant for the management of a business. This is not something that the marketing department at ministers. Rather, this is adopted by the entire company. The satisfaction, demand, and needs of the customer should always be foremost in the mind of employees and managers of a business. For getting a better understanding of the marketing philosophies, the evolution and history of the marketing philosophy should be examined first.

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What is the importance of market orientation For Identifying The Unsaid Desires Of Customers?

Market orientation includes improvement in product support and customer service which is used for solving issues raised by the customers. This also helps in ensuring customer satisfaction that remains high with the business as a whole and also promotes positive word-of-mouth advertising along with brand loyalty. For being successful, the business should ensure that all the departments of the business organization promote and adapt the market orientation approach to show that this becomes an integral part of the corporate culture. Effective market orientation helps increase customer retention as well as improve the growth in the new demographics. Market orientation also reveals the customer desire which is not cost-effective. The business then should determine how to fulfill the expectation of the customer in the best possible way. Market orientation will also help the business organization in focusing the product development efforts on all the characteristics which will be in demand highly. With the increasingly global economy along with the proliferation of the choices of customers, businesses can adapt to the market orientation, which will be advantageous for them.

What Is Market Orientation?

Market orientation is the approach to businesses which prioritizes identifying the desires and needs of the customers. This also creates the services and products for the customers for satisfying them. Businesses, which have a market orientation consider the needs and opinions of the target market as the critical element of the research and development of the new products. Market orientation is one of the conventional approaches to product development. With the market orientation, companies can focus on establishing the key selling point for promoting their existing products rather than just designing the products or services. Market orientation is the customer-centered approach to product designing. This involves market research, which aims to determine the views of the customers according to their needs, personal preferences, or primary concerns within any specific product category. Market orientation also allows businesses to focus on product development and the characteristics, which are in demand highly.

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What is the main marketing orientation?

The marketing orientation can be divided into a few key categories such:

Production orientation: This concept emphasizes streamlining the production process as well as concentrating on improving the efficiencies with little focus on the customers. This strategy is dedicated to the products along with the marketing point.
Product orientation: In the product orientation model, the key concern of the company is the quality of the product. The business focuses the approach on continually improving as well as refining the products with this approach. This approach will help in improving sales because of the high quality of the product along with better market research.
Sales orientation: This approach puts the efforts and energy into the selling of the existing products of a business. This approach prioritizes the customers, who stress their desires and needs. This approach can be effective for the business while competing for the customers in the saturated market.
Societal orientation: Because of the increase in environmental awareness, this approach has emerged. This approach will promote ethical practices and will help in building a better image for the organization.

What are the advantages and disadvantages of the market orientation Philosophy?

A marketing orientation has several advantages. The availability of the products or services allows the people for having more choices for satisfying their wants and needs. This should lead to a better quality of life. In short, this can be said that market orientation provides customer satisfaction. Market orientation also increases the acceptance rates. Product failure in the market will be reduced significantly as the company will be able to align its products with the demands and expectations of the customer with the help of market orientation. Market orientation will also increase customer loyalty by satisfying the customers. This is very critical for securing the profits and sales in long run. However, with market orientation, the companies will be able to generate greater loyalty. Some of the disadvantages of market orientation are complexity and poor flexibility.

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What are the characteristics of market orientation Philosophy?

Various characteristics of market orientation are there which are exhibited by the marketing organization. The followings are some of the characteristics of the marketing orientation.

Marketing orientation conducts market research for understanding the future and current requirements of the customers.
Market orientation pain considerable amount of money in the development and training of the employees for providing better customer service to the customers.
Market orientation focuses on the new product development.
Market orientation allows the organization to make customers their key focus.
Market orientation also provides customer satisfaction, competitive advantage, reduced switching to competitors, customer loyalty, as well as long-term profitability.