Samenvatting
Summary Theories Of Marketing (6314M0185Y)
This document consists of an overview of all required literature from course Theories of Marketing Fall Semester in Academic Year 2021/2022
[Meer zien]Voorbeeld 4 van de 51 pagina's
Voorbeeld 4 van de 51 pagina's
In winkelwagengesponsord bericht van onze partner
2 beoordelingen
Door: dragosanton • 1 jaar geleden
Door: jbystrzynska • 2 jaar geleden
Voorbeeld van de inhoud
Topic 11. Narver and Slater (1990), The effect of a market orientation on business profitability, journal of
marketing, October 1990
Market orientation is the organization-wide generation of market information about current and future customer
requirements, the dissemination of information through various departments, and the responsiveness of the
entire organization to market information. Market orientation is the very heart of modem marketing
management and strategy.
Market orientation is defined as a business unit that:
- acquires and applies information from customers
- develops strategies to meet customer needs
- implements those strategies to respond to customer needs and demands.
Market orientation is the organization culture that most effectively and efficiently creates the necessary
behaviors for the creation of superior value for buyers and, thus, continuous superior performance for the
business.
Market orientation consists of three behavioral components:
- customer orientation
- competitor orientation
- interfunctional coordination
And two decision criteria:
- long-term focus
- profitability
Customer orientation and competitor orientation include all of the activities involved in acquiring information
about the buyers and competitors in the target market and disseminating it throughout the business(es). The
third hypothesized behavioral component, interfunctional coordination, is based on the customer and
competitor information and comprises the business's coordinated efforts, typically involving more than the
marketing department, to create superior value for the buyers.
Customer orientation is the sufficient understanding of one's target buyers to be able to create superior value
for them continuously. A seller creates value for a buyer in only two ways:
- by increasing benefits to the buyer in relation to the buyer's costs
- by decreasing the buyer's costs in relation to the buyer's benefits
Competitor orientation means that a seller understands the short-term strengths and weaknesses and long-
term capabilities and strategies of both the key current and the key potential competitors.
Interfunctional coordination is the coordinated utilization of company resources in creating superior value for
target customers
The literature suggests that a market orientation has primarily a long-term focus both in relation to profits and
in implementing each of the three behavioral components of market orientation. For businesses the overriding
objective in a market orientation is profitability (or economic wealth). However there is no agreement as some
,consider profitability as a consequence of market orientation. To comprise, the researchers e separate both
profitability and long-term focus from what we see to be the three behavioral components of market orientation.
Discussion:
The findings support our hypothesis that for both the commodity and non-commodity businesses, market
orientation is an important determinant of profitability. Among the non-commodity businesses, the positive
relationship between market orientation and a business' profitability appears to be monotonic, whereas among
the commodity businesses a positive market orientation/profitability relationship is found only among
businesses that are above the median in market orientation. For both commodity and non-commodity
businesses, relative costs appear also to be an important determinant of profitability. Thus, on average, both
types of businesses can pursue either or both differentiation and low cost strategies.
We might expect numerous industries (especially basic industries as well as long-established technology-
driven industries) to have some form of the U-shaped market orientation/profitability relationship. The
likelihood is even greater if the businesses in these industries rely heavily on a sales center/telemarketing
approach.
The businesses having the highest degree of market orientation are associated with the highest profitability.
Therefore at market orientation is relevant in every market environment.
Suggestions for future researches:
- multiple corporations as the sampling frame
- expanded sample of industries
- longitudinal research design
Conclusion:
- Market orientation and performance are strongly related.
- A substantial market orientation must be the foundation for a business's competitive advantage strategy
2. Slater and Narver (1998) Customer-led and market-oriented, let’s not confuse the two, strategic
management journal, 19, p1001–1006
A customer-led philosophy, is primarily concerned with satisfying customers' expressed needs, and is
typically short term in focus and reactive in nature.
A market-oriented philosophy, goes beyond satisfying expressed needs to understanding and satisfying
customers' latent needs and, thus, is longer term in focus and proactive in nature.
Market orientation - the implementation of the marketing concept.
The marketing concept says that an organization's purpose is to discover needs and wants in its target
markets and to satisfy those needs more effectively and efficiently than competitors.
The customer-led business (reactive):
, - Focuses on understanding the expressed desires of the customers in their served markets
- Develops products and services that satisfy those desires
- Uses focus groups and customer surveys to enhance their understanding of customer wants
- Develops close relationships with important customers to gain deeper insight into those their desires
- May be successful in relatively predictable environments where it is most important to take care of a
stable served market.
Problems with the reactive orientation
- The philosophy is reactive and short term in focus, and generally leads to adaptive rather than
generative learning
- ‘Tyranny of the served market' in which managers see the world only through their current customers'
eyes
- The value of traditional market research tools is limited when it comes to developing innovative
products or services; latent needs cannot be articulated and, thus, other approaches to learning about
markets must be utilized
The market-oriented business (proactive):
- Committed to understanding both the expressed and latent needs of their customers, and the
capabilities and plans of their competitors through the processes of acquiring and evaluating market
information in a systematic and anticipatory manner
- Scans the market more broadly, have a longer-term focus
- Uses generative learning; conducts market experiments, learns from the results of those experiments,
and modifies their offerings based on the new knowledge and insight
o The initial product is a prototype that becomes the foundation for subsequent, more-refined
generations that follow
- Works closely with lead users – customers, or potential customers, who have needs that are advanced
compared to other market members and who expect to benefit significantly from a solution to those
needs
- New products and unserved markets are the catalyst for organizational renewal in the market-oriented
business
- True lead users are those visionaries, that are willing to accept a partial, but potentially superior,
solution from the supplier and to work closely with the supplier in order to exploit the new technology to
achieve advantage over their competitors who use the old solution.
- The early majority are pragmatists in that they require a clear understanding of how adoption of the new
technology will create economic value for them; the pragmatists represent the mainstream market
Customer-led REACTIVE Market-oriented PROACTIVE
Strategic orientation Expressed wants Latent needs
Adjustment style Responsive Proactive
Temporal focus Short-term Long-term
Objective Customer satisfaction Customer value
Learning type Adaptive Generative
Learning processes Key account relationships Generative Customer observation
Focus groups Lead-user relationships
Concept testing Continuous experimentation
Selective partnering
, 3. Achrol and Kotler (2012), Frontiers of the marketing paradigm in the third millennium, Journal of
the Academy Marketing Science, vol 40:35–52
History of marketing paradigm:
1. The exchange paradigm – focuses on inter-firm relationships, brought the concept and theories of the
marketing channel to the fore,
2. The network paradigm – a three-tiered framework based on emerging shifts in the phenomenology of
marketing. The three fields are:
a. consumption experiences
b. marketing networks
c. sustainable development
Domains of the network paradigm:
1. The theoretically more tractable domain of the marketing microcosm, its subphenomena
2. Its phenomenal realm (including the managerial realm) with its mid-range theories that have predictive
power even if their putative mechanisms are less than rigorously explicated
3. The superphenomenal realm of marketing and society, a largely descriptive field of analysis.
Subphenomena:
- Focuses on the consumption experience as the fundamental domain of relevant theory and human
sensory processes as the fundamental bases of explanation
- The fundamental process in marketing is consumption, and the elemental concepts in consumption are
satisfaction, value and utility. If there is a “new” concept in the digital age of information, knowledge
products and the service economy, it is that of consumer experiences
- The disciplinary divide between mind (cognitions) and the brain (the physiology of the mind) is rapidly
disappearing
- Subjects of interest for this domain:
o How large a role do Skinnerian stimulus-response processes play in consumption behavior?
o Is there a subliminal learning process after all (due to the so called “priming” effect)?
- The aim of a subphenomenal marketing is to enhance the consumption experience
Phenomena:
- The field of phenomenal marketing is complex and is shifting. Hierarchies have given way to marketing
networks
- The post-industrial, vertically integrated, multidivisional firm is evolving into complex global business
networks from the production end to the consumption end
- Marketing networks are superior to hierarchies in the production and exchange of knowledge To
function, networks rely on relational governance processes rather than hierarchical authority or power
- Emphasizes the shift in control and coordination mechanisms from power-based systems to norm-
based relational systems and parallels the development of relationship marketing theory in general
- Evolution of production and innovation networks:
o First came the routinization of the production function and its backward outsourcing.
o Phase two networks involve the routinization and outsourcing of innovation
Voordelen van het kopen van samenvattingen bij Stuvia op een rij:
Verzekerd van kwaliteit door reviews
Stuvia-klanten hebben meer dan 700.000 samenvattingen beoordeeld. Zo weet je zeker dat je de beste documenten koopt!
Snel en makkelijk kopen
Je betaalt supersnel en eenmalig met iDeal, creditcard of Stuvia-tegoed voor de samenvatting. Zonder lidmaatschap.
Focus op de essentie
Samenvattingen worden geschreven voor en door anderen. Daarom zijn de samenvattingen altijd betrouwbaar en actueel. Zo kom je snel tot de kern!
Veelgestelde vragen
Wat krijg ik als ik dit document koop?
Je krijgt een PDF, die direct beschikbaar is na je aankoop. Het gekochte document is altijd, overal en oneindig toegankelijk via je profiel.
Tevredenheidsgarantie: hoe werkt dat?
Onze tevredenheidsgarantie zorgt ervoor dat je altijd een studiedocument vindt dat goed bij je past. Je vult een formulier in en onze klantenservice regelt de rest.
Van wie koop ik deze samenvatting?
Stuvia is een marktplaats, je koop dit document dus niet van ons, maar van verkoper juliasmolenska. Stuvia faciliteert de betaling aan de verkoper.
Zit ik meteen vast aan een abonnement?
Nee, je koopt alleen deze samenvatting voor €6,49. Je zit daarna nergens aan vast.
Is Stuvia te vertrouwen?
4,6 sterren op Google & Trustpilot (+1000 reviews)
Afgelopen 30 dagen zijn er 53008 samenvattingen verkocht
Opgericht in 2010, al 15 jaar dé plek om samenvattingen te kopen