Marketing oriented companies work according to the needs or wants of the targeted customers to desire and fulfill their needs and this is the primary business motivator of these companies.
In this strategy, companies always try to develop new products and improve its existing products or services as per the customer’s needs. Companies with especially strong marketing orientation may even detect consumer needs before the general market is aware of them by continuous surveys and feedback reports. Sometimes companies seek the help from Lead Research Users which can identify the need prior to normal people.
In short we can say that these companies are cutting-edge innovators that always try to give customers what they want faster than their competitors.
Companies with a marketing orientation are commonly called customer-centric as they work for the customer needs. These companies continuously conduct market research and are highly responsive to customers’ feedback.
Most successful businesses take a market-orientated approach. Nowadays companies know that customers have become more knowledgeable and require more variety with better quality so now the companies are market oriented instead of product oriented.
To compete in the market, businesses need to be more sensitive and more responsive to their customers’ needs otherwise they will lose sales to their rival.
Tools of Marketing Orientation:
· Market Research
· Market Testing
· Customer Focus
Elements of marketing Orientation:
Market Oriented Companies are Samsung, Hero MotoCorp, Maruti Suzuki Ltd., etc.