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The five marketing orientation
The production concept is one of the oldest system in the world which in the United States began to proliferate itself after the industrial revolution. The typical production company is dedicated to some form of manufacturing activity. Based on the production concept customer react based on the law of supply and demand in which price is a determining factor of the desire of a customer to acquire an item (Varian, 2003). As lower prices the demand of a product increases, thus the production of the company increases in accordance. The management teams in company following the production concept emphasis on improving the operating efficiency of the firm to lower costs and streamline the operation in all aspects of its supply chain. The supply chain of a company is the network of distributors, transporters, storage facilities, and suppliers that participate in the sale, delivery, and production of a product. The production concept can be applied to service companies.
A second strategic marketing orientation is the product concept. The product concept stipulates that consumers will favor those products that offer the most quality, performance, or innovative features (Kotler, 2002). A company adds value to its business by make improvement and enhancements to its featured products. An example of this application be can be seen in the company Sony. One of the most popular products of the company is its portable playstation system (PSP).