Sample Essay
A market oriented firm or in other words a consumer focused firm allows potential and existing customers’ needs and wants to pave way to all strategic decisions that shape the presence of that firm in the market. The customer value created pays heed to what consumers demand.
The firm should produce only to satisfy such needs and wants in the already existing market and under go either rapid or gradual evolutionary change while maintaining a proactive leadership position to ensure competitive advantage (Strictland and Thompson, 2003). Moreover, the marketing concept is shaped by various perspectives, such as, the culturally based behavioural perspective, strategic perspective, the decision making and the market intelligence perspective.
Porter’s Five Forces help analyse the position of a firm in the market place and how competitors can be dealth with based on the rivalry present among them and the entry of new participants in an already competitive environment, it depends upon what threats could be imposed on the company and based on such criteria strategies need to be made.
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