2. Advantages of Market Orientation

Theme:Marketing and market orientation
Plan:
1.What is Marketing and market orientation

2. Advantages of Market Orientation

Market orientation is a business approach wherein the processes of product development and creation are focused on satisfying the needs of consumers. It is a type of marketing orientation technique that designs products with qualities that consumers want, which is completely different from the conventional marketing approach. In the conventional approach, the business prioritizes the promotion of existing products by establishing features that can be key selling points. Companies like Amazon and Coca-Cola use market orientation principles while companies in the luxury goods market, such as Louis Vuitton or Chanel, follow the conventional approach.
Summary

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  Market orientation is a marketing approach wherein the processes of product development and creation are focused on satisfying the needs of consumers.
  
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  Marketing orientation is the business approach that dictates all the processes within that organization. It comes in several types: sales orientation, market orientation, production orientation, and societal orientation.
  
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  Market orientation offers several advantages, including product differentiation and increased consumer satisfaction.
  

Understanding Marketing Orientation
Marketing orientation is the business approach that dictates all the processes within that organization. It outlines how the company’s core offering is presented to its users and how the marketing teams are empowered.
Although marketing teams have a say in the marketing strategies adopted, the marketing orientation is determined by the priorities of upper-level management. The different types of marketing orientation are as follows:
1. Sales orientation
2. Market orientation
3. Production orientation
4. Societal orientation