MARKET ORIENTATION

Market Orientation

Marketing Orientation

Introduction

The world in which we live today is moving at a rapid pace. If we observe the focal reasons behind this rapid change then it would be revealed to us that technological advancement, development of innovative methodologies, increased awareness are the factors because of which change is the only thing that is considered as constant. In this constantly changing world, where there are scores of mediums through which opportunities not only can be exploited but can also be created. Exploiting, exploring and creating opportunities is something that is in vogue in business arena. With regard to marketing this practice is known as marketing orientation. Marketing orientation is one of the new-fangled facets that is used by a number of organizations. The aim and objective of this paper is also to discuss this facet with the help of examples.

Marketing Orientation/ Market Oriented Company

In a brief way, market orientation can be described as the implementation of the marketing concepts (Sing, 2012, 11). The most common and the most accepted definition of market orientation is as follows that was put forwarded by Kohli and Jaworoski as quoted in Grunert's book:

“When there is prevalence of market intelligence with regard to the current as well as future needs of the customers throughout the organization then it is said that the organization is a market oriented organization. In another way it can be stated that when there is dissemination of the intelligence across different departments of the organization and the entire organization is responsive to it (Grunert, 2011, 11).”

In a nutshell, the concept of marketing orientation can be described as a concept that revolves around what is offered by an organization to the customers. While analyzing the offer that is made by an organization to the customer the needs and wants of the customers are analyzed and are taken into account. When the needs and wants of the customers are analyzed then product should be designed accordingly. It is not only enough but the philosophy because of which this new product is devised should also be embedded in each and every department of the organization (Cathy and Tom, 2010, 3).

Marketing orientation is an aspect that causes its impact on the overall culture and direction of the organization. Market orientation cannot be fully practiced by an organization until and unless it is imbued in all the departments and all the functions of the organization. Whenever any organization decides to be market oriented organization then implementing the marketing concepts in the main operation of the business cause its affect on all the aspects of the organization. From top management to employees, from employees to performance and from performance to the business performance each and every aspect of the organization gets affected. This mantra can best be explained with the help of following chart.

According to Singh 2012, marketing orientation can be regarded as the cornerstone in the marketing management. The prevalence or being a market orientation organization is important in superior performance and in sustaining ...