Marketing Management and Market Orientation Essay

People are exposed to marketing in near everything and they can see the results of marketing in the advertisements on television, internet, and so on and in the abundance of many another(prenominal) an(prenominal) products. So marketing can be define as an area that has been evolved over time and its function is a set of activities that includes understand, deliver, create and communicate about a product or service to customers, clients. match to The Chartered Institute of merchandise marketing is The management process responsible for identifying, anticipating and satisfying customer requirements fruitfully (The Chartered Institute of foodstuffing). Among the management functions like organizing, financing and producing, marketing is recognized as a bouncy function by many companies. In the opinion of Prf. Rustom S. Davar Marketing Management is the discovering of the consumers needs, converting them into the products or service to the eventual(prenominal) consumer, so tha t needs of specific categories or groups of the customers could be so satisfied that by the most comfortable utilization of the resources, the could derive the maximum benefits (Mundra, 2010). Physical and psychological factors are the main focus in the Marketing Management, also motivate, coordinate, control and direct are one of the principal resposibility to achieve marketing management goals. coiffure the Market orientation courseNaver and Slater (1990) define Market Orientation as the culture that most efficaciously and efficiently creates the necessary behaviours for the creation of superior value for buyers. They measure the extent of market orientation by means of 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 provide t he needs and wants of a target customer, this includes develop new 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 throw identity LV a brand recognized as one of the most luxurious and more than 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 pull aheads the company enjoys a distinctive position in the belligerent landscape. Louis Vuitton products are set by 18 principles such as Principle 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 order to keep 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 keep the luxuriousness and exclusivity of the brand they work with famous interior designers such as Marc Jacobs, Stephen Sprouse, to create trammeled editions that are offered to the upper class. or so of this collaboration has completely forgotten 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 offering products with the maximum quality creating an undated desire in LV products. Also providing lifetime guarantee for its products. LV keep working with the engine room by continuous work on improvement of quality also create a quick apps so their customer can enjoy the experience by distance. They dont have limit on how much they would invest in pleasing their customers from adequate their stores to please their customer to designs everything to keep customers and acquiring more.