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Complete 12 page APA formatted essay: Marketing Assignment.In this relationship the need of the customer is fulfilled while the goal of the marketer is also achieved which is to gain profit.The organi
Complete 12 page APA formatted essay: Marketing Assignment.
In this relationship the need of the customer is fulfilled while the goal of the marketer is also achieved which is to gain profit.
The organizations which pursue a marketing oriented strategy basically put all their focus and efforts in catering exactly to the customer’s needs. A marketing oriented company is driven by the altering needs of the market. Such organization enjoys a very intimate and close relationship with their target market in order to fully comprehend the needs and demands of the market.
The success of Virgin as a brand can be associated with its adoption of market oriented strategy. The market oriented approach of Virgin group is evident from the belief of its founder Sir Richard Branson who states that ‘in principle there were no product or service boundaries limiting a brand name, provided it was associated with quality products/services on offer’.
A drive to act: The Virgin Group has diversified in many other industries including entertainment, travel and lifestyle. They amply cater to their relative market in all these arenas. Their drive to act and succeed is in fact the basis for their market oriented approach.
Valuing the internal customers: The decentralized management of Virgin group is testament of its market oriented approach. Virgin allows the managers to amply assess the needs of the customers and then bring forth the desired products.
According to the selling concept, a firm should work to make profits and put all its focus and efforts in making a sale while the marketing concept holds that the firm should first identify the needs and wants of the market and then plan an appropriate marketing mix that fulfills the specifications of the customers.
The virgin is making use of the marketing concept. The corporate strategy of virgin in the Virgin Charter highlights its inclination towards the marketing concept. The sub brands of Virgin are all working as autonomous enterprises under the umbrella of