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Marketing concept and marketing orientation Essay Example

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Marketing concept and marketing orientation

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Abiding by these trends means the organisation has to come up with commodity strategies that address customer needs and wants.The four Ps of marketing, market plans, behaviour, and research are factors an organisation can consider when seeking market orientation. A stipulated example is GrameenPhone, Bangladesh’s top telecoms firm. In 2012, GrameenPhone had a market share of 62%, which represents 8.5 million subscribers. This market share seems impressive but is actually poor for a large corporation in a country with a high market growth. Bangladesh’s per capita income was $421 as of the fourth quarter of FY2013. Currently, the organisation’s business model is working towards market orientation by using subscribers whose mean monthly expenditure on cell phone services is $2 (Ahmed, 2013). GrameenPhone regularly carries out market research works, especially in the provision of customer service. Through these studies, GrameenPhone hopes to know its target market better and build inventive methods for selling its services. Clearly, GrameenPhone knows market research means marketing orientation is a pivotal for achieving the marketing concept.On top of market research, GrameenPhone started a procedure for removing the gap between the firm and its market. This strategy entails consistent events with subscribers in an atmosphere that is both social and formal. The purpose of this strategy is to get direct communication with subscribers both as a means of improving the reputation of GrameenPhone’s brand and acquiring new knowledge about them (Ahmed, 2013). This strategy constitutes of market plans necessary for achieving competitive advantage through market orientation. Market plans through proper market communication can help GrameenPhone improve its market share in an economy with an increasing market growth. During these events, subscribers gave input about their experiences with GrameenPhone’s services (Ind and Bjerke, 2007). GrameenPhone knows the P of product in marketing means marketing orientation is accomplished through consumer input on the abilities of the product to their needs and wants.An organisation can consider customers and the fulfilment of their needs and wants through pricing to show orientation (Taghian, 2010). For an organisation to determine how much they will charge for an offer, it should know its competition. Knowing about competitive

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References

Ahmed, S. (2013). Measuring the Effectiveness of GrameenPhone’s CSR Programs in Creating the Brand Awareness. School of Business, Independent University Bangladesh. Retrieved from http://www.sb.iub.edu.bd/internship/Autumn2013/1020710.pdf

Almquist, A. J. (2014). The Innovative Academic Library: Implementing a Marketing Orientation to Better Address User Needs and Improve Communication. Journal of Library Innovation, 5(1), 43.

Cihovská, V. (2013). Social Orientation Of Marketing Concept. Journal of Positive Management4(1), 52-62.

Ind, N. and Bjerke, R. (2007). The concept of participatory market orientation: An organisation- wide approach to enhancing brand equity. Journal of Brand Management, 15 (Special Issue Paper), 135–145.

Taghian, M. (2010). Marketing planning: Operationalising the market orientation strategy. Journal of Marketing Management, 26(9/10), 825-841.

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preview essay on Marketing concept and marketing orientation
  • Pages: 4 (1000 words)
  • Document Type: Essay
  • Subject: Marketing
  • Level: Undergraduate
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