What is Market Orientation? Definition of Market Orientation, Market Orientation Meaning and Concept
Market orientation is the one carried out by many companies when their philosophy is focused mainly on marketing and strategies focused on standing out within the market they are targeting.
Market orientation is based on promoting marketing within the company, not only in its corresponding department, but also in other areas with the consequent objective of having a global strategic vision.
Global globalization, the appearance of the internet and new technologies and the growing social commitment have made market orientation one of the most widely used approaches among companies.
The management and direction of the company will be the first to support this type of orientation when it is decided to bet on this type of business philosophy. Of course, always taking into account multiple initial factors such as the study of users, the market, the competition and the different channels in order to establish a series of competent strategies.
Giving value to customers and satisfying their needs through this global vision that characterizes market orientation is essential for a brand.
Therefore, operational marketing and strategic marketing come together in order to provide maximum value and enhance the brand, I feel the latter is the priority for the company.
What is market orientation based on?
It is based on the following:
- Study and vision of the market: In the first instance, the company collects information on the competition and the demands of consumers, their opinions, criteria and needs. All this will serve as a basis to focus the strategies properly.
- Share information: All sections of the company will have access to this information, especially if they are involved in the market orientation procedure. Decisions are made by consensus and jointly between all the related departments, and with the vision of creating the most appropriate strategies, with the most outstanding personnel for their implementation.
- Implementation of the strategies: After the coordination of the different areas involved and the stipulated action plan, they are put into operation, being subsequently reviewed to measure the results generated in the market after their implementation.
Difference Between Marketing Orientation and Market Orientation
The main differences are the following:
- Marketing orientation: It is based on giving special emphasis and attention to the marketing department above the rest of the areas that make up the company.
- Market orientation: The strategic vision stands out, but at a global level by all the company's departments. A vision that offers an integrating philosophy through all its sections.