assignment of market 1.docx

assignment of market 1.docx

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assignmentofmarket1

Withthedevelopmentofeconomicglobalization,themarketsarechangingwithhigh-speedinChina,evenintheworld.Thereportwillanalyzethemarketorientationbasedonpersonallyexperience.

Background

AgarmentscompanysituatedinGuangzhouSouthofChina.Itproducesafullrangeofgarmentsfromhigh-endformalwear,includingsuits,jackets,skirts,andpants,tocasualandathleticclothingforbothmenandwomen.Thecompanyemploysabout500employees,andtheyfocusonChinaMarket.Therearesomeproblemwiththiscompany

●CEOdecideonwhatproductstomake,hedoesn’tgiveautonomyorincludesalesstafftoconsultmarketintelligence.

●Thecompanypaylowwagestothesalespeople.

●Thecompanyneedtomarketingasaprocess,andnotasadepartmentwork.

Mainbody

Beforeanalyzetheproblemofthiscompany,weshouldknowsomethingaboutwhatmarketingisandwhatmarketingorientationis.Howitworksintheorganization.

Whatismarketing?

OneofthemostbasiccomesfromtheAmericanauthorofmarketingtextbooks,PhilipKotler:

Marketingisthehumanactivitydirectedatsatisfyingneedsandwantsthroughanexchangeprocess.（Kotler,1980）

Since1980Kolter’sdefinitionhasbecomelonger:

Marketingisasocialandmanagerialprocessbywhichindividualsandgroupsobtainwhattheywantandneedthroughcreating,offering,andexchangingproductsofvaluewithothers.（Kotler,1991）

PeterDruckeroncewrote,‘thereisonlyonevaliddefinitionofbusinesspurpose:

tocreateacustomer.’Atitssimplest,ifyoudon’thaveanycustomersfortheproductorserviceyourorganizationoffers,thenthereisnoreasonforcontinuingexistence.

Fromtheaboveconceptswecangetaconclusion,thefinestaimofmarketingistomeettheneedsandwantsofcustomerstogetmoreandmorecustomers.

Whatismarketingorientation?

Marketorientationhasbeenclassifiedindifferentwaysbyseveralresearchers.Thefollowingarethemostfrequentlyusedclassifications:

●acorporatephilosophy;

●theimplementationofthemarketingconcept;

●anideal;

●apolicystatement;

●acorporatestateofmind;

●afaith;

●anorganizationalculture;

●aconceptofperiodorstagesofdevelopmentanddegreeofmaturityofanorganizationthatparallelstheeconomicdevelopmentofthenationalmarketwithinwhichitoperates.

Despitetheseseeminglydifferentclassificationsofmarketorientation,wemayconcludethatalloftheabovelabelsholdtrue.Marketorientationcanbeabusinessphilosophyheldbythemanagementofanorganization（MCgeeandSpiro1988）,ortheimplementationofthemarketingconcept（McGarthyandPerreault1997）.Marketorientationcanalsobedescribedasaformoforganizationalculturethat:

Placesthehighestpriorityontheprofitablecreationandmaintenanceofsuperiorcustomervaluewhileconsideringtheinterestsofotherkeystakeholders;

●providesnormsforbehaviourregardingtheorganizationaldevelopmentofandresponsivenesstomarketimformation.

AsDay（1994:

43）putsit:

‘Amarketdrivenculturesupportsthevalueofthoroughmarketintelligenceandthenecessityoffunctionallycoordinatedactionsdirectedatgainingacompetitiveadvantage.’Essentiallythemarket-orientedcultureisexternallyoriented.

Businessorganizationsmaybeclassifiedaccordingtotheirtendenciesororientations.Inbusiness,somecompaniesaredescribedasproductionorsalesoriented,whileothersmaycomeunderthecategoryofmarketoriented.Thefirsttwodescriptionsindicateanemphasisonproductionandsales,whilelatterindicatesanemphasisonthemarketplace,indicatingthatsuchcompaniesaredirectedtowardsorcentredaroundtheircustomers.Someauthorsaddmoreorientations.Forexample,Payne（1988）arguesthatmostorganizationshavearangeofconflictingorientationsandassociatedattitudes.Similarly,otherauthors,suchasLevitt（1960）,arguethatmanyorganizationsdonotservetheirmarketssatisfactorilybecauseofthefactthattheirmanagersareproductoriented.

●Organizationalandmanagerialcharacteristicsofmarket-orientedcompaniesandtheantecedentsofthisorientationintermsofmanagerialimplementationissueshavebeencoveredinvariousconceptualandpracticalstudies.Intwoseparateempiricalstudiesbydifferentresearchers,similarorverycloseconclusionswerereachedaboutthedefinitionsandconstructsofmarketorientation.KohliandJaworski（1990:

2）definemarketorientationastheorganization-widegenerationofmarketintelligencepertainingto:

●Currentandfuturecustomerneeds;

●Disseminationoftheinformationacrossdepartments;

●Organization-wideresponsivenesstoit.

FortheAcompany,however,theMDdecideeverything,withouttheinformationfromthesalesdepartment,howdotheMDknowthecurrentandfuturecustomerneeds?

Iftheycannotgetthecustomers,howdoesthecompanyexitinthemarket?

Accordingtotheshareholdervaluemaximizationview（Rappaport1986;McTaggartetal.1994）,nocompanycancreatewealthforitsshareholderswithouthavingverysatisfiedandloyalcustomers,yetitisquitepossibletodotheoppositeandtoachievehighlevelsofcustomersatisfactionandbeunabletotranslatethisseemingadvantageintoadequatereturnstoshareholders.McTaggartetal.（1994）concludethatthelimitstocustomersatisfactionshouldbedeterminedasfollows:

Aslongasmanagementinvestsinhigherlevelsofcustomersatisfactionthatwillenableshareholderstoearnanadequatereturnontheirinvestment,thereisnoconflictbetweenmaximizingshareholdervalueandmaximizingcustomersatisfaction.If,however,thereisinsufficientfinancialbenefittoshareholdersfromattemptstoincreasecustomersatisfaction,theconflictshouldberesolvedtoavoiddiminishingboththefinancialhealthandlong-termcompetitivenessofthebusiness.

Asfarbackas1776,AdamSmith,thefatherofmoderneconomicswrote:

Consumptionisthesoleendandpurposeofallproductionandtheinterestsoftheproductoughttobeattendedtoonlysofarasitmaybenecessaryforpromotingthoseofthecustomer.

Marketinginvolveseveryoneintheorganization,thepeopleinanorganizationshouldberequiredtounderstandthefinalcustomerfortheirefforts,andthustohaveacustomerfocusintheirjob.

Therearetwoimplicationsofthemarketingconceptasafocusforanorganization.First,itencouragesorganizationstoasktherightquestions,andsecond,itassiststheintegrationofcompanyactivities.

Aorganizationwillinitiallyaskthebasicquestions:

●Wherearewenow?

●Wheredowewanttogetto?

●Howdowegetthere?

Amarketwillaskquestionsspecificallyaimedatthefuture,andplacethemfirmlyfromthecustomers’perspective.Thequestionsaskedbyamarketerwillthereforebe:

●Whoareourexisting/potentialcustomers?

●Whataretheircurrentandfutureneeds?

●Howcanwesatisfytheseneeds?

-Canweofferaproduct/servicethecustomerwouldvalue?

-Canwecommunicatewithcustomers?

-Canwedeliveracompetitiveproductorservice?

●Whyshouldcustomersbuyfromus?

Itistheresponsibilityofmarketingmanagementtofindanswertothesequestions,andtherebydevelopsolutionstomarketneeds,withintheconstraintsoftheorganization’sresourcesandpolicies.

Everyoneintheorganizationmustaimtoservethecustomer,whetherdirectlyorindirectly.

（MarketingPrinciples&Practice）DennisAdcock

Themarketing-orientatedfirmproducesgoodsandservices,whichithasascertainedtheprospectivecustomeractuallywantstopurchase.

Inamarketingorientatedorganization,theentirefirmappreciatesthecentralimportanceofthecustomerandrealizesthatwithoutsatisfiedcustomerstherewillbenobusiness.Tobeabletoprogressfroma‘sales’toa‘marketing’orientation,seniormanagementintheorganizationmustworktocultivateacompany-wideapproachtothesatisfactionofcustomerrequirements.

Marketorientationhasbeenclassifiedindifferentwaysbyseveralresearchers.Thefollowingarethemostfrequentlyusedclassifications:

●acorporatephilosophy;

●theimplementationofthemarketingconcept;

●anideal;

●apolicystatement;

●acorporatestateofmind;

●afaith;

●anorganizationalculture;

●aconceptofperiodorstagesofdevelopmentanddegreeofmaturityofanorganizationthatparallelstheeconomicdevelopmentofthenationalmarketwithinwhichitoperates.

Despitetheseseeminglydifferentclassificationsofmarketorientation,wemayconcludethatalloftheabovelabelsholdtrue.Marketorientationcanbeabusinessphilosophyheldbythemanagementofanorganization（MCgeeandSpiro1988）,ortheimplementationofthemarketingconcept（McGarthyandPerreault1997）.Marketorientationcanalsobedescribedasaformoforganizationalculturethat:

Placesthehighestpriorityontheprofitablecreationandmaintenanceofsuperiorcustomervaluewhileconsideringtheinterestsofotherkeystakeholders;

●providesnormsforbehaviourregardingtheorganizationaldevelopmentofandresponsivenesstomarketimformation.

AsDay（1994:

43）putsit:

‘Amarketdrivenculturesupportsthevalueofthoroughmarketintelligenceandthenecessityoffunctionallycoordinatedactionsdirectedatgainingacompetitiveadvantage.’Essentiallythemarket-orientedcultureisexternallyoriented.

Businessorganizationsmaybeclassifiedaccordingtotheirtendenciesororientations.Inbusiness,somecompaniesaredescribedasproductionorsalesoriented,whileothersmaycomeunderthecategoryofmarketoriented.Thefirsttwodescriptionsindicateanemphasisonproductionandsales,whilelatterindicatesanemphasisonthemarketplace,indicatingthatsu