Write a report explaining which principles/objectives seem to be most important and what happens to the product/companies if they are ignored. Explain why market orientation is so important.

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Write a report explaining which principles/objectives seem to be most important and what happens to the product/companies if they are ignored. Explain why market orientation is so important.

There are many priorities within an organisation, but if it is truly marketing orientated, many of the following principles will be high on its agenda:

  • Customer Satisfaction
  • Customer Perception
  • Customer needs and expectation
  • Generating income or profit
  • Satisfactory Growth
  • Coordinating marketing activities
  • Awareness of change
  • Awareness of legal constraints
  • Analysis of the competition

All of these are important if a business wants to succeed. Some of these principles are more important than others. I think that the most important ones are customer satisfaction, customer perception and analysis of the competition. The reason I think that these three are most important are because if the business didn’t take into account customer satisfaction and perception than it would mean that they start to loose their customers. The company can make sure that the customers are satisfied by doing market research to see what the customers want. By doing this market research they can see what the customers want and they can make sure that they get it. It is important that the company take into account customer perception because if the customers feel that they aren’t getting good quality products, and value for money than they again will decide to go somewhere else, which means that the company will again loose customers. I think that companies should clearly understand who their competition are and what benefits they are offering for an organisation to make sure that they are also offering these benefits so that the customers don’t feel the need to go to the competition instead of a certain company because they feel that the competition offers more benefits.

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An organisation also sets itself objectives, to establish its position in the market place. Some of these objectives include:

  • Making a profit
  • Survival- beating the competition
  • Increasing sales and market share
  • Providing quality goods and services
  • Developing a skilled workforce
  • Maintaining a good relationship with actual and potential customers and other stakeholders i.e. suppliers, shareholders and employees.

The marketing objectives listed above are similar to the marketing principles and some overlap but again all of these marketing objectives are important, but some are more important than others. I think that the most important objectives ...

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