Post by jannatmimhm0 on May 20, 2024 8:04:13 GMT 3
Understanding Market Orientation Launching from the investopedia.com page, market orientation is a strategy that ensures customer satisfaction is met. Meanwhile, according to Craven and Piecry ( ), market orientation is defined as a perspective that places consumers as the focus of attention in company activities. So, basically, market orientation is a business strategy that is oriented towards market needs and desires. It can also be defined as a business approach that identifies the desires of its target consumers.
Also read: What is a Fragmented Market ? The following is a complete explanation Functions and Benefits of to Hasan ( ), market orientation has several functions, namely: Directing the company to product differentiation and efficiency Romania Phone Number based on market orientation Direct managers to de-emphasize product orientation to respond to the market Directing organizational systems, such as formalization and centralization, will be determined sequentially and will not stand alone The benefits of market orientation include: Helping companies produce products or services that match customer perceptions.
Helps produce more efficiently than competitors Explain the differences in performance achieved by the company Also read: Understanding what a saturated market is and how to overcome it Market Orientation Components According to Narver and Slater ( ) in a book entitled The Effect of A Market Orientation on Business Profitability , market orientation consists of three behavioral components, namely customer orientation, competitor orientation, and inter-functional coordination. The explanation of these three components is as follows.
Also read: What is a Fragmented Market ? The following is a complete explanation Functions and Benefits of to Hasan ( ), market orientation has several functions, namely: Directing the company to product differentiation and efficiency Romania Phone Number based on market orientation Direct managers to de-emphasize product orientation to respond to the market Directing organizational systems, such as formalization and centralization, will be determined sequentially and will not stand alone The benefits of market orientation include: Helping companies produce products or services that match customer perceptions.
Helps produce more efficiently than competitors Explain the differences in performance achieved by the company Also read: Understanding what a saturated market is and how to overcome it Market Orientation Components According to Narver and Slater ( ) in a book entitled The Effect of A Market Orientation on Business Profitability , market orientation consists of three behavioral components, namely customer orientation, competitor orientation, and inter-functional coordination. The explanation of these three components is as follows.