Marketing Management and Market Orientation Essay

People atomic number 18 exposed to market placeing in virtu on the wholey everything and they can see the results of marketing in the advertisements on television, internet, and so on and in the abundance of many products. So marketing can be go down as an atomic number 18a that has been evolved over time and its process is a set of activities that includes understand, deliver, perform and communicate about a product or service to customers, clients. According to The Chartered base of merchandise marketing is The focussing process responsible for identifying, anticipating and satisfying customer requirements profitably (The Chartered Institute of tradeing). Among the management functions like organizing, financing and producing, marketing is accepted as a vital function by many companies. In the opinion of Prf. Rustom S. Davar commercialiseing Management is the discovering of the consumers needs, converting them into the products or service to the ultimate consumer, so th at needs of circumstantial categories or groups of the customers could be so satisfied that by the most tender utilization of the resources, the could derive the maximum benefits (Mundra, 2010). Physical and psychological factors are the main(prenominal) focus in the Marketing Management, also motivate, coordinate, control and direct are one of the principal resposibility to achieve marketing management goals.Define the Market p writeNaver and Slater (1990) define Market Orientation as the purification that most effectively and efficiently throws the necessary behaviours for the creation of superior esteem for buyers. They measure the extent of market orientation through the behaviours that are the manifestations of those values. These authors define three basic components as customer orientation, competition orientation and inter-functional coordination (Naver, 1995). Market Orientation is the business motivation within a company, because it is focus on identify and provid e the needs and wants of a target customer, this includes develop unused products or improve on exist products. The purpose of marketing orientation is to create superior buyer value that is the reason why all the decisions are based on information about the customers needs or wants instead of think what is good for the business.Reflect on the Market Orientation and Management of an organisation you are aware of. Louis Vuitton has established in the market place with its own identity LV a daub recognized as one of the most luxurious and more exclusive brand in the fashion industry. Its marketing strategy is to provide their customers with the most luxurious products with a unique quality, which may the customers, choose between buying a Louis Vuitton or nothing. The way that LVMH (Louis Vuitton Mot Hennessy) Group manages its market orientation and management makes the company enjoys a distinctive position in the matched landscape. Louis Vuitton products are set by 18 principle s such as pattern of Ostentation, Principle of Prohibiting Unfavorable Comparisons Designed to Support Other Brands, etcetera (Nagasawa, 2008). As well, has no policy of make rebate in their products in recount to get a higher perception of its products. All its products have a purpose and it is to make the customers feel part of a social reference group, a social status that is why many of its models campaign are famous celebrities in order to make customers feel part of that group.To defend the luxury and exclusivity of the brand they work with famous formers such as Marc Jacobs, Stephen Sprouse, to create limited editions that are offered to the upper class. Some of this collaboration has completely disregarded the famous pattern LV that was the case of Kasuma a Japanese designer who is famous for its repetitive dots. Louis Vuitton creates a high loyalty with their customers by pass products with the maximum quality creating an endless desire in LV products. too providing lifetime guarantee for its products. LV keep working with the technology by continuous work on improvement of quality also create a mobile apps so their customer can enjoy the nonplus by distance. They dont have limit on how frequently they would invest in pleasing their customers from adequate their stores to please their customer to designs everything to keep customers and getting more.