Marketing Orientation and Concept

Market Orientation

• An organizational perspective that puts the philosophy of the marketing concept into practice.
  • Gathering market intelligence.
  • Disseminating knowledge.
  • Coordinated response.

Marketing Concept

• Focuses on value, customer relationships, and customer loyalty.
• It's a consumer-oriented philosophy dedicated to understanding and fulfilling consumer needs through the creation of value.

Value-driven Marketing

• Customer value is defined as:
  • $customer\ value = customer\ benefits - customer\ costs$

The Importance of Marketing (Peter Drucker)

• Marketing and innovation are the two basic functions of a business enterprise.
• Marketing and innovation produce results; all the rest are costs.

Creating an Identity and Making Connections

• Key questions to consider to make connections and create identity:
  • Why are we here?
  • How can we position ourselves?
  • You are the product.
• Resume’ (important for showcasing one's product qualities)
  • Don’t be bland.
  • What is your personal brand?

The Key to Successful Marketing: STP

• STP stands for:
  • Segmenting
  • Targeting
  • Positioning