Megt 695

MKT 610 Fall 2010

1.a Please describe a market-oriented organization. Be complete in describing the characteristics that are part of an effective market orientation.

Following are different types of market oriented organization.

Consumer oriented products: These products relate directly to the consumer. Products which are directly sold to customers like tooth paste.

Industrial Product firms: Industries which sell business to business products are called Industrial product firms.

Service oriented firms: Firms which provide services to their customers than products are called service oriented firms. Services like consulting or maintenance will come under service related firms

Non profit Organization: this type of organization is different from other organizations as they are non profit in nature.

Following are the characteristics of an effective market orientation.

Customer focus: Organization must always be customer focus. They must know what their customer needs and wants are. All their strategy must be customer focus.

Competitor intelligence: Every organization must know what their competitors are doing. They must always update themselves with their competition moves and strategies. Have competitor intelligence is very important in effective market orientation.

Interfuncational coordination: All the areas of the organisation must be effectively coordinated with each other for effective market orientation. Like finance department must know what accounting department is up to. Like wise all the departments.

(b) Why do we say a market orientation is the foundation of an effective marketing strategy?

➢ It is very important for any organization to focus on its target market.

➢ Quality obsession is one of the main feature of an effective market orientation. It is quality which drives the product for a long period.

➢ Having satisfied customers is also very important for market orientation

➢ It is very important...