What is marketing? Marketing is an ongoing process of planning and executing the marketing mix (Product, Price, Place, Promotion often referred to as the 4 Ps) Personal selling, advertising, making products available in stores, and maintaining inventories.Dictionary definition-marketing is an organizational function and a set of processes from creating, communicating and delivering value to customers and for managing customer relationships in ways that benefit the organization and stoke holders.
Production Oriented: Referred to as field of dreams. “If we build it they will come.” The furniture industry is infamous for it’s disregard of customers. A philosophy that focuses on the internal capabilities of the firm rather than on the desires and needs of the marketplace. It falls short because it does not consider whether the goods and the services meet the needs of the marketplace. The target everybody. (Focus on efficiency of internal operations) What can we make or do best?
Sales Orientation: It is based on the ideas that people will buy more goods and services if aggressive sales techniques are used and that high sales result in high profits. Main problem with sale orientation is the lack of understanding of the needs of the marketplace. They focus on what the organization makes rather than making what the market wants. (Streamline.com) They focus on the technology rather than the customer. (Focus on aggressive sales techniques and believe that high sales result in high profits) How can we sell more aggressively?
Market Orientation: A philosophy that assumes that a sale does not depend on an aggressive sale force but rather on a customer’s decision to purchase product.
-focus of customers wants and needs. Understanding the competitors strengths and weaknesses is critical component is a critical component. They target specific groups of people not everyone.(Netflicks, coach, apple ipod) (Focus on satisfying customer needs and wants while meeting objectives)...