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Marketing Oriented Approach
Pages 4 (1004 words)
The dynamic business environment caused by phenomenon such as mergers and acquisitions, globalization, free trade, shorter product lifecycles, rapid economic growth as well as technological advancements have all exerted significant pressure on the top management’s ability to proactively deal with the changes and respond to them as quickly as possible (Kumar et al., 2011)…
To this end it is useful to compare and contrast between firms that lie at two ends of the spectrum: the marketing oriented firms versus the production oriented. A marketing oriented approach is a ‘reactive’ approach in that companies produce new products/services based on customer needs and wants (Kotler, 2007). However, it goes further than that in that it aims to establish long term profitable relationships with the customer (Jeff, 2009). The aim of such firms is not just delivering a product has profitable customer demand but also establishing long term association with them by exceptional customer service. Such service may be in the form of superior after sales service and/or consultation services provided by salespeople (Jeff, 2009). Kotler elaborates on the concept of marketing orientation by claiming that holistic marketing orientation is essentially a process that enables companies to capture customer lifetime value. The concept of building long lasting relationships with customers enhances the company’s ability to understand the customer and retain him for a lifetime. ...
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