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.
CHAPTER ONE INTRODUCTION 1.1 Background of the Study In today’s complexity of competition in the marketplace, entrepreneurial orientation (EO) and Market orientation (MO) can be considered as an integral part and a factor that can be a significant contributor to a firm’s success. Business firms are expected to intensify their seeking out to meet new opportunities that satisfy by the customer along with obtaining a sustainable competitive advantage to survive in a competitive environment. Several researchers and scholars have conducted Entrepreneurial and Market Orientations, According to Rigtering (2013), EO research originates from the work of Miller (1983), who linked different types of organizational configurations (simple firms, planning firms and organic firms) to the degree of entrepreneurial
“In the consumer marketing, brands are often the initiating point of the difference between competitive proposals, so that they can be significant for organizations success. Thus, it is very important that brand’s management applied by strategic method. The brand is a fundamental product of a company. Brand equity shows a price difference that a powerful brand attract it in its sale in comparison with other brands. In recent researches about brand equity, there are two main prominent theoretical points of view that provide valuable views into the body of brand equity.
1.2 INTRODUCTION In Indian scenario the importance of branding in the retail market is felt from the high degree of competition that is prevalent in the market. This study brings to light the influence of Retail store Attributes on building brand equity. For the purpose of this study well established supermarket in Chennai city were chosen. The rapid changes in the Indian and global markets have led to the importance of understanding the concept of Brand Management. A brand refers to the name or symbol which identifies the products or services of one manufacturer and differentiates with that of competitors.
Promotional activities need to create clear position in minds of target audience. Apple has consistently positioned themselves as a premium brand at a premium price (Harvey, 2016). Internal marketing: - To build a successful brand internal marketing is just as important as external marketing. Staff must understand company ethos on which the company brand is built. Positioning: - In simple terms brand positioning is the process of positioning your brand in the minds of consumers.
Product and Market orientations approaches: Product orientated is more operational related performance achievement, In general the company will focus in the quality of the product to enhance the consumers to buy the product even the product is too costly, however the market oriented is focusing in the satisfaction of consumers rather than the product is good quality or not and the product is cheap or expensive. NIVEA marketing
a. The product and production orientation of marketing asserted that a company should first develop product and then they should scan the market for sale opportunities. Now days in the modern world the market have changes. The process orientation of marketing requires a company to first to analyse the market, understand customer requirement and then develop products. In todays world, the modern marketing is based on the reverse process, in which the first the customer needs and demands are identified.
Nowadays, in order to sustain longer in the business worlds, the organization or company have to compete against their competitor through the competitive advantages. Building brand equity or strong brands can be considered one of the important elements that drivers of business success as the brand are to be said “the heart of marketing along with business strategy”. As there are many identical products or services available in the market, customer have the opportunity to chose and then select what best fits and the most beneficial to full fill customer’s interests. As the time passed by, customer’s decision processes are not only merely based on simply laying on its fulfillment of the functional needs but also influenced by the emotional benefits
There are vast contrasts between the customer-centric approach and the product-centric approach of marketing. The first significant differences between the approaches are the perspective of the organizations. Product-orientated organisations take the mass market; this means that the company produces on a large scale to anyone who is willing to purchase the product. This means in this structure they fail to meet the specific needs of stakeholders. Dissimilarly, market-orientated companies cater to niche segments that are specific, smaller set of people.