Answer to Question #184833 in Marketing for Monti

Question #184833

Identify and briefly describe the different types of orientation concepts

Expert's answer

Market orientation is the approach to business that prioritizes consumers' identification and needs and desires and creating products and services that satisfy them.

The orientation concepts may include:

   Production concept. The concept states that consumers prefer products that are readily available and inexpensive.

   Product concept. The concept focuses more on customers stating that potential customers prefer products that offer quality, performance, or innovative features.

   The selling concept. The concept maintains that customers will not buy enough of a business' products unless they are persuaded to do so.

   The marketing concept. The concept believes that the success of a business depends on the marketing efforts that can deliver a better value proposition than its competitors.

   The societal concept. The concept stresses that giving back to society by producing better products that can help the world be a better place is necessary.

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