Marketing management orientations
A "philosophy of business management," "a corporate state of mind," or "organisation culture" have all been used to define a marketing orientation. Although academics continue to disagree on the exact nature of particular concepts that guide marketing practice, the following orientations are most frequently mentioned:
- Product concept: Its primary concern is the caliber of its output. With the exception of haute couture and arts marketing, it has largely been replaced by a marketing orientation.
- The production concept specializes in producing a large quantity of a specific good or service to achieve economies of scale or scope. From the 1860s to the 1930s, it dominated marketing practices and is still used today in a few businesses or sectors. The production philosophy is specifically mentioned by Kotler and Armstrong as being "one of the oldest philosophies that guides sellers... [and] is still useful in some situations."
- The selling concept: instead of creating new products to meet unmet needs or wants, it concentrates on selling and promoting the company's current products.
- Promotional and direct sales strategies are frequently used in industrial businesses for "unwanted goods." According to a 2011 meta analysis, the factors with the biggest effects on sales performance are a salesperson's sales-related knowledge (market segments,
- Adaptability, role clarity, cognitive aptitude, motivation, and interest in a sales role), as well as presentation skills, conflict resolution, and product knowledge).
- Marketing concept: This is the most prevalent idea in modern marketing, and it centers on developing products that appeal to changing consumer tastes.
- These businesses conduct in-depth market research, apply R & D (research and development), and then employ promotion strategies. Included in the marketing orientation are:
Customer orientation: Producing goods that consumers are willing and able to purchase allows a business to survive in a market economy. Therefore, determining consumer demand is essential for a company's future success and even continued existence as a going concern.
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- Organizational orientation: Within the functional level of an organization, the marketing division is crucial. The other departments of a company are directed by information from the marketing department. Through market research, a marketing department could learn whether customers wanted a particular product type or new applications for an already-available product. In light of this, the marketing division would advise the R&D division to develop a prototype of a good or service based on the changing preferences of customers. The process of making the product would then begin in the production division. The finance division might be against necessary capital investments because they might damage the company's ability to maintain a healthy cash flow.
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- Societal marketing concept: Social responsibility encompasses societal stakeholders like employees, customers, and local communities, in addition to customer satisfaction and superior value. Financial, social, and environmental impact reports are frequently published by businesses that adopt this perspective and use triple bottom line reporting. Sustainable marketing is an extension of social marketing, also known as green marketing.