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Introduction to Marketing Strategy05.01.10

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Introduction MARKETING STRATEGY FOCUS on MARKETING ORIENTATION Evolution of the Marketing Concept Product Orientation Late 19th century: efficient production of goods allowed firms to meet strong customer demand. Sales Orientation Mid-1920s–early 1950s: weakened demand required that products would have to be “sold.” (personal selling, advertising, and distribution was the focus) Early 1950s–2000s: adopting a customer focus means a commitment to researching and responding to customer needs.
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  Introduction MARKETING STRATEGY   FOCUS on MARKETING ORIENTATION  Evolution of the Marketing Concept ProductProductOrientationOrientationSalesSalesOrientationOrientationMarketingMarketingOrientationOrientation Late 19th century: efficient production of goodsallowed firms to meet strong customer demand.Mid-1920s–early 1950s: weakened demandrequired that products would have to be “sold.”(personal selling, advertising, and distributionwas the focus)Early 1950s–2000s: adopting a customer focusmeans a commitment to researching andresponding to customer needs.  Important Terms  Marketing   The process of creating, distributing,promoting,and pricing goods, services, and ideas tofacilitate satisfying exchange relationshipswith customersin a dynamic environment  Customers   The purchasers of organizations’ products; thefocal point of all marketing activities   Target Market  A specific group of customers on whom anorganization focuses its marketing efforts
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