Marketing

Table of Contents

1. Topic pack - Marketing - introduction
2. 4.1 The role of marketing - notes
   1. The role of marketing
   2. Market size and market share
   3. Market growth
   4. Market share
   5. Definition and nature of marketing
   6. Marketing - Sliced bread and other delights
   7. The marketing process
   8. Marketing and its relationship with other business activities.
   9. Market and Product Orientation
   10. Key elements - market orientation
   11. Market or product orientation?
   12. Additional marketing orientations
   13. Social marketing
   14. Asset-led marketing
   15. Marketing - exercise
   16. Marketing goods and services
   17. Effect on the marketing process
   18. Marketing in non-profit organisations
   19. Marketing in non-profit organisations - case study
   20. Marketing in non-profit organisations - exercises
   21. The marketing plan
3. 4.1 The role of marketing - questions
4. 4.2 Marketing Planning - notes
5. 4.2 Marketing planning - questions
6. 4.3 Product introduction - notes
7. 4.3 Product - questions
8. 4.3 Product - simulations and activities
9. 4.4 Price - notes
10. 4.4 Price - questions
11. 4.4 Price - simulations and activities
12. 4.4 Promotion - notes
13. 4.5 Promotion - questions
14. 4.6 Place (distribution) - notes
15. 4.7 International marketing - notes
16. 4.7 International marketing - questions
17. 4.8 E-commerce - notes
18. 4.8 E-commerce - questions
19. Printable version

Market or product orientation?

The approach adopted by a firm will be determined by the nature of:

• The product
• The market
• The firm

If the product is highly specialised or a niche product, there is unlikely to be much competition and barriers to entry to the market may be high. Under these circumstances, there may be little incentive for the firm to carry out expensive market research if it can sell all of its output at the price it determines. This was certainly true of technological developments such as games consoles and smartphones like the iPhone, where initial output was low relative to demand and premium pricing was possible. As markets grow in size, increased competition forces firms to be more market orientated.

Traditional, long established firms in manufacturing sectors may have corporate cultures which encourage product orientation - a 'we know best' approach. The emphasis is on keeping costs low and maintaining production efficiencies. However, whether this attitude can last into the long term is debatable unless the management is particular adept at consistently producing desirable products.