MARK344 Lecture Notes - Lecture 1: Customer Relationship Management, Market Orientation, Strategic Management
Document Summary
Market orientation assessment, box 1. 1: customer orientation; understanding customers well enough continuously to create superior value for them, competitor orientation; awareness of the short- and long-term capabilities of competitors, long-term perspectives; as the overriding business objective. Interfunctional coordination; using all company resources to create value for target customers: organisational culture; inking employee and managerial behaviour to customer satisfaction; Resource-based marketing essentially seeks a long-term fit between the requirements of the market and the abilities of the organisation to compete in it. The essential factor, however, is that opportunities are seized where the organisation has an existing or potential advantage through its resource base, rather than just pursued ad hoc. Where market orientation is high all organisational functions are focused on their role in, and contribution to, creating superior customer value. This in turn affects the way those functions are managed, and the priorities they pursue. Principle 2: only compete in markets where you can establish a competitive advantage.
