DIFFERENCE BETWEEN MARKET ORIENTED AND MARKETING ORIENTED

In general, the phrase marketing orientation is a marketing term, whereas market-oriented is typically an economics term. Marketing orientation means a company operates with a market- or customer-first approach. Market oriented is used in marketing, but it more typically describes a free enterprise economy where businesses and consumers are able to buy and sell freely.

When a company has a marketing orientation, it makes meeting the needs or wants of its target customers its primary business motivation. This includes responding to stated consumer needs by developing new products, improving on exist products or improving services. Companies with especially strong marketing orientation may even detect consumer needs before the general market is aware of them. These companies are usually cutting-edge innovators that try to give customers what they want faster than competitors.

Market orientation is more than simply ‘getting close to the customer.’ An organisation can be market oriented only if it completely understands its market. Customer information must go beyond research and promotional functions to penetrate every organisational function.

·        Customers

Markets consist of consumers, competitors and regulatory organizations. If your business has a market orientation, you focus your activities on potential customers and competitors while complying with regulations. If your business is marketing-oriented, you have the same focus for your market-related activities, but you add other concerns.

·        Selling

Selling means persuading consumers to buy your product. Market-oriented companies may study their market to find out what sales strategy works best and use it to persuade potential customers. Marketing-oriented companies study the market to find out what consumers want, what price they will pay, where they want to make their purchases and how the company can reach them. If yours is a marketing-oriented company, you inform potential customers that the product they are looking for is available at a price they can afford in a convenient location. For your promotion, you use media channels that your potential customers favour.

·        Products

Market-oriented companies know what the customers want, but they may or may not focus on products and manufacturing. If you are executing a marketing strategy, product design, price and quality are key aspects of your planning and execution. Knowing your market is a first step in the marketing process. While a market orientation may lead toward the same goals, a marketing orientation forces you to follow the marketing process and develop products that meet the needs of your target market customers.

·        Customer Service

Whether you are in a market-oriented company or a marketing-oriented one, your primary goal in customer service is to ensure that customers are satisfied. Beyond that immediate objective, the marketing process regards customer service as an opportunity to interact with customers and obtain feedback on how effectively the company is implementing its marketing strategy. Based on feedback from customer service and other sources, a marketing-oriented company will improve the product and adjust its marketing strategy.