Examples of Market-Oriented Approach in the following topics:
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- Occupy Wall Street protesters approach inequality from a social justice perspective that holds that all Americans deserve equal life chances and have been denied them by market-oriented approaches to economic regulation (or lack thereof).
- Occupy Wall Street protesters approach inequality from a social justice perspective that holds that all Americans deserve equal life chances and have been denied them by market-oriented approaches to economic regulation (or lack thereof).
- Functionalists are likely to embrace market-oriented approaches to inequality, on the basis that a free market will result in prices that benefit the smooth-functioning and growth of economies.
- These thinkers are likely to support state-oriented approaches to regulating inequality, with governments instating policies to equally distribute opportunities and resources.
- By protesting the financial institutions that provide capital to economic enterprises, "occupiers" suggest that the market-driven approach to inequality, embraced by financiers, has not resulted in a fair and equitable economic order.
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- One marketing standard chronology (Bartels, 1974; Dawson, 1969; Keith, 1960; Kotler and Keller, 2006) subdivides marketing history as follows:
- An orientation, in the marketing context, related to a perception or attitude, a firm holds towards its product or service, essentially concerns consumers and end-users.
- The marketing orientation evolved from earlier orientations; namely, the production orientation, the product orientation and the selling orientation.
- Marketing: needs and wants of customers 1970 to present day; the marketing orientation is perhaps the most common orientation used in contemporary marketing.
- It involves a firm essentially basing its marketing plans around the marketing concept; and thus supplying products to suit new consumer tastes.
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- Given the emergence of a global economy, however, which brought the opening of markets and increased competition, the traditional approach has changed dramatically.
- Market-oriented companies are beginning to emerge in every developing economy in the world.
- Another author who successfully introduced a marketing orientation is Theodore Levitt.
- His orientation is sometimes referred as a "marketing myopia" approach since companies define their business in terms of products and not in terms of customer needs and wants.
- In summary, market orientation is essentially a customer orientation.
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- As opposed to production or product orientation, a sales orientation focuses primarily on the selling and promotion of a particular product.
- As opposed to production orientation or product orientation, a firm using a sales orientation focuses primarily on the selling and promotion of a particular product.
- Approaching marketing with a selling orientation was popular for companies in the 1950s and 1960s.
- A marketing orientation centered around sales represented a major milestone in modern business.
- Effective selling requires a systems approach, at minimum involving roles that sell, enable selling, and develop sales capabilities.
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- Examples of markets include: Physical retail markets, such as local farmers' markets, shopping centers and shopping malls Non-physical internet markets Ad hoc auction markets Markets for intermediate goods used in production of other goods and servicesLabor markets and international currency and commodity markets Stock markets, for the exchange of shares in corporations Artificial markets created by regulation to exchange rights for derivatives that have been designed to ameliorate externalities, such as pollution permits.
- Illegal markets such as the market for illicit drugs, arms, or pirated products
- Many companies today have a customer focus (or market orientation).
- In the consumer-driven approach, consumer wants are the drivers of all strategic marketing decisions.
- Market trends are the upward or downward movement of a market during a period of time.
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- Similar to production orientation, the product orientation of marketing focuses solely on the product a company intends to sell.
- The main task of an organization utilizing the product orientation approach is to continue improving quality and reducing costs as key factors in the fight to maintain and attract customers.
- As soon as a competing company can offer a product more oriented to the satisfaction of customers' needs and desires, the companies undertaking product orientation will lose most if not all of its market share.
- Companies adopting a product orientation of marketing focus on product quality and therefore emphasize research and development.
- Describe the basis for a company using product orientation as its marketing premise
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- Social marketing has similar characteristics to marketing orientation but with the added proviso that there will be a curtailment of any harmful activities to society, in either product, production, or selling methods.
- Increasingly, social marketing is being described as having "two parents" - a "social parent," i.e., social sciences and social policy; and a "marketing parent," i.e., commercial and public sector marketing approaches.
- Social marketing has, in the last two decades, matured into a much more integrative and inclusive discipline that draws on the full range of social sciences and social policy approaches as well as marketing.
- Social marketing theory and practice has been progressed in several countries such as the US, Canada, Australia, New Zealand and the UK, and in the latter a number of key Government policy papers have adopted a strategic social marketing approach.
- It is a part of the new marketing approaches which do not just refocus, adjust or enhance existing marketing thinking and practice, but seek to challenge those approaches and provide a substantially different perspective.
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- Competitive analysis is also a significant component of market orientation.
- Since its introduction, marketing orientation has been reformulated and repackaged under numerous names including customer orientation, marketing philosophy, and customer intimacy.
- As stated, the most important focus in a market-orientated business is the customer.
- Similar to a production-oriented company, one of the primary goals of marketing-oriented or customer-oriented businesses is long-term profitability.
- A company adopting a marketing orientation must focus on the desires of its customers.
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- Perhaps the simplest model to define social class is a three-tiered approach that includes the rich, the middle class, and the poor.
- Marketers must be very aware of the social class of their target market.
- A marketer should understand the dynamic of the social class as well.
- For example, the upper-middle class are generally ambitious, future-oriented people who have succeeded economically and now seek to enhance their quality of life.
- Effective marketers will understand that and be able to tailor their approach accordingly.
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- The marketing concept centers on market orientation.
- The marketing orientation is perhaps the most common orientation used in contemporary marketing.
- For a market oriented company, product innovation is very important.
- The attempt to define the concept of market orientation has led to a number of arguments in the academic field.
- Market orientation is implementation of the marketing concept, which is a particular business philosophy.