The paper "Incisive Outlook on Marketing Orientation, Marketing Management of the McDonalds Corporation" is a perfect example of a marketing case study. Marketing management revolves around the practical application of marketing strategies. In order to actualize effective strategies of marketing management, organizations need to fully understand the model of their businesses and the markets that they operate in. Market orientation is a key marketing management strategy that focuses on identifying and meeting the existing demands of a particular market. Over the years, various organizations have developed market-oriented operation models geared towards meeting the needs of their market.
As a result, a good number of these organizations have experienced improved business performance (Mohan, 2005). This report seeks to present an incisive outlook on marketing orientation. The report will explore what marketing management entails by reviewing a number of kinds of literature that focus on marketing management. This report will depict what market orientation is about based on the sentiments of Kohli and Jaworski (1990) and Narver and Slater (1990) among many theorists. This report will further explore ways in which market orientation benefits organizations.
Moreover, this report will seek to analyze the marketing management of the McDonalds Corporation and determine how market-oriented the company is using Narver and Slater (1990) MKTOR scale. In addition, this report will seek to recommend several time-bound marketing strategies that the Corporation can employ in order to meet its marketing goals. The recommended marketing strategies will be based on the findings of the survey conducted on the Corporation. Marketing management According to Mohan (2005), marketing management is an imperative aspect of business that focuses on the management of an organization’ s resources and the practical application of marketing strategies.
In order to actualize effective strategies of marketing management, organizations need to fully understand the model of their businesses and the markets that they operate in. Marketing management provides a framework of analyzing and understanding the market environment with regards to completion and the needs of consumers (Mohan, 2005). Louden and Steven et al (2004) note that there are four main elements that marketing management focuses on in order to improve efficiency, profits and market share. These elements include; value, relationships, quality and customer satisfaction.
Effective marketing management holistically addresses these four elements and adapts to the societal marketing orientation as the main guiding principle. Evidently, the need to effectively address these four elements in hypercompetitive markets is a challenging task to most organizations. However, marketing managers can counter these challenges by implementing a societal marketing approach. According to Louden and Steven et al (2004), effective marketing management is often driven through a distinctive orientation of the organization’ s marketing strategy towards the organization’ s products and the customers. Thus effective marketing management is characterized by market orientation as the guiding principle (Louden & Steven et al, 2004). Market orientation In reference to the sentiments of Kohli and Jaworski (1990) market orientation is the generation of an organization’ s marketing intelligence with regards to the current and future needs of customers, propagating this intelligence across the organization’ s departments and the responsiveness of the organization to it.
Kohli and Jaworski, therefore, weigh the concept of market orientation on the basis of an organization’ s responsiveness to the needs of the future and current market (Kohli & Jaworski, 1990).
Narver and Slater (1990) consider market orientation as an organizational culture that effectively creates necessary behaviors with the aim of developing more superior value for its customers and hence improved business performance. In their definitions, these authors have identified three key components revolving around market orientation, they include, organizational coordination, competitor orientation and customer orientation (Narver& Slater, 1990). Conversely, Deshpande, Farley and Webster (1993) challenge the sentiments of Narver and Slater (1990). According to Deshpande, Farley and Webster (1993) market orientation is equivalent to customer orientation. Thus according to the customer's interest is the most fundamental element of market orientation.
Deshpande, Farley and Webster (1993) accentuate that marketing strategies should mainly focus on the customers (Deshpande, Farley & Webster, 1993).
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