Hey everyone! Thought this time I would write about marketing, and share with you some of the stuff that I am learning in school.
Marketing is a big part of a business. Without marketing, a business won’t be able to function to it’s maximum potential. To start with; what is marketing? What is the definition of marketing?
Dictionary.com defined marketing as “the total of activities involved in the transfer of goods from the producer or seller to the consumer or buyer, including advertising, shipping, storing, and selling.” To me marketing is consumer based philosophy, management, and an organization function. It is a process of delivering values and benefits to consumers.
In the world of marketing, there are 4 different philosophies that affects the way companies work. The four philosophies are:
Sales Orientation Philosophy:
Sales orientation philosophy focuses on...well...selling! Companies with a strong sales orientation philosophy believe that it does not matter what they are producing; consumers will buy more if they uses a strong sales techniques. the problem with such philosophy is that, if the customers do not want or need the product, they won’t buy them.
-Any car dealerships
-Many dot coms companies
Production Orientation Philosophy:
Companies with a production philosophy focuses on the company’s strongest capabilities. Meaning, the managers of such companies will assess their resources and capabilities and ask themselves: “what are we good at?” “What can we make that will be easy considering our equipments?” Such philosophy still applies today to many car and furniture manufacturer. There is nothing wrong with doing what your company do best, but it also does not take into account the customers’ needs and wants.
-Many americans car manufacturer
Market Orientation Philosophy:
Market orientation philosophy actually focuses on the customers’ wants and needs. Market orientation basically states that the sole reason for a company’s existence is to fulfill the needs of the customers. Which is right. Unlike sales orientation, they do not focus on aggressive selling techniques, but on customers’ purchasing decision making.
Societal Marketing Orientation Philosophy:
This philosophy combines market orientation and a high regards towards society’s long term interests. These companies focuses on the customers’ wants and needs and they also pay very close attention to the environment. They think about how their product is going to affect the environment or the society as a whole.
-Today’s “green” companies