marketing has always oriented towards the marketing of services.
is this statement (true) or( false )?
Answers
Answer:
False.......
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.
Explanation:
Market orientation is an approach to business that prioritizes identifying the needs and desires of consumers and creating products and services that satisfy them. Companies that have a market orientation consider the opinions and needs of their target market as a critical component of their research and development (R&D) for new products.
KEY TAKEAWAYS
Market orientation is a strategic focus on identifying consumer needs and desires in order to define new products to be developed.
Established businesses like Amazon and Coca-Cola use market orientation principles to improve or expand their products or services.
Even consumer demands that are impractical today can inform long-range decision-making.
How Market Orientation Works
Market orientation is a customer-centered approach to product design. It involves market research aimed at determining what consumers view as their immediate needs, primary concerns, or personal preferences within a particular product category.
Advantages of Market Orientation
Market orientation often includes improvements in customer service and product support geared to solving concerns raised by consumers. This helps ensure customer satisfaction remains high with the company as a whole and promotes brand loyalty and positive word-of-mouth advertising.
To be successful, companies need to ensure that all departments adopt and promote the market orientation approach so that it becomes an integral part of the corporate culture. When effective, market orientation can help a company increase customer retention and propel growth in new demographics.
Market Orientation vs. Other Strategies
Development focused on market orientation puts consumers' desires first, creating the product around their expressed needs and wants. This contrasts with product orientation, a business philosophy that emphasizes getting the consumer to become aware of and like the features and benefits of a particular product.
Product differentiation often goes hand-in-hand with a product orientation approach. With this approach, the company employs an advertising strategy that aims at clearly identifying the attributes that distinguish a brand from its competitors.
Sales orientation focuses on persuading the consumer into immediate action through means such as television commercials, in-store demonstrations, or direct response marketing.
Any or all of these approaches may be required for a successful marketing strategy, but most businesses focus on one as a primary method.