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Importance Of Marketing Orientation In Marketing

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Marketing is a result of behavioural and management sciences wheeled by instinct, imagination, motivation and transformation. Marketing needs technological aspect to build new products and the ability to recognize new directions. It also requires in-depth knowledge to bring thoughts into action. The key element of marketing process is to bring profits to a company. Marketers perform market research and prepare the marketing blue-print. Based on this research the marketers pick their target markets, offerings and relationship type with their customers. Each expert in marketing domain has an opinion about marketing elements which often differs from others. Need and wants: When a person is deprived of basic necessities, need for the same arises. Food, clothing and shelter are the basic necessities for human…show more content…
The two definitions which were suitable are listed below: Market orientation consists of three main elements, customer orientation, competitor orientation and inter-functional co-ordination. Marketing orientation also includes long term attention and profitability. Marketing orientation is defined as propagation of marketing intelligence throughout the organization. The information about the current and future needs of the customer is also included. It also depends on the circulation of marketing intelligence across various sectors and company’s acknowledgement in return. Benefits of Market Orientation • Sales growth has a direct impact on market growth. Companies which are more focused towards market orientation, encounter sales outgrowth. • Market growth is proportionally related to increase in market share. This implies that those companies which are more focused on market orientation, experience higher market share. • Success of a new product is directly dependent on marketing orientation. If a product is developed in a highly market oriented firm, then the product will have higher success
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