Market Orientation Essay Example

constantly striving to understand the customer's value chain. This knowledge can be acquired through customer calls, as mentioned by Slater & Narver in March-April 1994. A market-oriented company is always prioritizing and driven by the needs of its customers, as stated by Casper in April 1989. For instance, some companies have implemented programs that encourage employees to visit customers once a month in order to gather valuable insights.

In addition, companies prioritize both pre- and post-sales services in order to ensure customer satisfaction (Slater & Narver, March-April 1994). Furthermore, competitor analysis plays a significant role in market orientation and affects organizations, regardless of their size (McColl-Kennedy & Kiel, 2000).

Organizations must be aware of their competitors, including their strengths and weaknesses, as well as their own strengths and weaknesses (Heiens 2000). Additionally, it is crucial for companies to understand the technology utilized by their competitors (Slater & Narver March-April 1994). These companies that emphasize competitor analysis in their external market research are referred to as "marketing warriors." These warriors analyze and compare the strengths and weaknesses of their competitors (Heiens 2000). For instance, Marriott employees traveled to another country for six months and stayed in economy hotels to gather information about the strengths and weaknesses of these hotels.

According to Slater & Narver (March-April 1994), the Marriott can enhance their performance using the provided information. Moreover, interfunctional coordination is emphasized as a crucial component, which involves utilizing resources to generate value for buyers. It is essential for every department and employee to comprehend the importance of this value.

They need to understand their responsibilities in assisting the company in gaining advantages. A well-organized company will employ small multifunctional teams

for projects, with each unit and department prioritizing excellence in their respective tasks. When all departments work together to create value for consumers, the process becomes more effective and efficient, resulting in improved product quality (Slater & Narver, March-April 1994). Additionally, employees should be regarded as valuable assets.

Staff training is necessary because employees are the ones who interact with customers. For instance, renowned organizations like Walt Disney provide training to their staff prior to customer engagement (McChesney July 1997). This illustrates the belief that prioritizing customers through market orientation is sufficient for achieving business success. Nevertheless, not all marketers share this perspective.

Even though customers are always the primary focus for a company, it is essential for the company to also consider its competitors and ensure smooth interfunctional processes. This approach allows the company to achieve short-term success but may present challenges for long-term success. Johnson & Johnson, a renowned healthcare product company, serves as an example of such achievement through their credo. They give utmost importance to product quality while effectively managing costs to maintain reasonable prices. Additionally, they prioritize employees' well-being by providing safe working conditions and supporting them in fulfilling family responsibilities (source: http://www.jnj).

com/connect/? flash=true;, 1997-2008). Pepsi and Coca-cola, two renowned companies, have been engaged in promoting their products for a considerable period of time. However, while Coca-cola has consistently expanded its product offerings and achieved global sales growth, Pepsi has encountered a decline in sales (Kotler ; Armstrong 1999). The primary motive behind the adoption of a market-oriented approach by most companies is to prevent significant issues. By embracing a market-oriented mindset, companies can allocate time to interact with customers during their

store visits, enabling them to gather valuable information that can positively impact the company's future.

A market-oriented company is more profitable than a non-market-oriented one because it conducts competitor research to prevent loss of business. Additionally, such a company faces fewer internal issues as all departments and employees are well-informed and share information (Casper April 1989). Even Starbucks, which prioritizes market orientation and customer focus, considers the attitudes of its employees towards customers. It is important to note that the business environment is constantly changing.

Changes in consumer needs and desires, competition strategies, and employee working styles and ideas all contribute to the need for businesses to go beyond customer focus in order to succeed. By solely focusing on customers, companies may miss out on numerous opportunities to expand their business and gain recognition. Market orientation plays a vital role in business performance and success (Waller, Dabholkar & Gentry 2000). Therefore, companies must exercise caution when formulating their marketing strategies to stand out in the market and consistently attract consumers' attention.