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Chapter Seven

Chapter Seven. Weaving Marketing into the Fabric of the Firm. LEARNING OBJECTIVES. Introduce market orientation concept Describe the internal partnerships that must be developed with marketing Discuss how marketing learns. MARKET ORIENTATION CONCEPT . What is a Market Orientation

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Chapter Seven

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  1. Chapter Seven Weaving Marketing into the Fabric of the Firm

  2. LEARNING OBJECTIVES • Introduce market orientation concept • Describe the internal partnerships that must be developed with marketing • Discuss how marketing learns

  3. MARKET ORIENTATION CONCEPT • What is a Market Orientation • Components of Market Orientation • How Market Orientation Impacts Performance • Spanning Process

  4. What is Market Orientation • The systematic gathering of information on customers and competitors, both present and potential • The systematic analysis of the information for the purpose of developing market knowledge • The systematic use of such knowledge to guide strategy recognition, understanding, selection, implementation and modification A market-oriented firm should - benefit from better marketing programs; be difficult for competitors to identify; be unique

  5. Components of Marketing Orientation • Establish a corporate culture where every employee values their customers • Listening to the voice of the customer throughout the entire company • Developing superior skills to understand and satisfy customers A market orientation must exist in the culture of the organization (part of the values & norms of the organization) A company needs a market orientation in order to learn successfully.

  6. How Market Orientation Impacts Performance • Do a better job of market sensing • Anticipating market requirements ahead of competition • Marketing research is one form of market sensing • Can be achieved through listening to the salesforce, observing competition at trade shows, and developing stronger ties with innovative customers and suppliers • Be able to develop stronger relationships • With customers • With channels of distribution

  7. Spanning Process

  8. PARTNERSHIP IN MARKETING • Internal Partnering – The process of creating partnerships with other functional areas within the firm • Partnerships are characterized by open communication, trust and commitment to the partner. • Partners are able to align their goals with the goals of the other • Silo structure is with high walls built around the departments and no ability or desire to go between the departments • The creation of internal partnerships • Internal Partners

  9. Stages of Internal & External Partnering AWARENESS EXPLORATION EXPANSION COMMITMENT ACHIEVING THE SUPRAGOAL: CUSTOMER SATISFACTION

  10. Internal Partners PURCHASING MANUFACTURING AND ENGINEERING (R&D) MARKETING FINANCE

  11. Encouraging Integration in Marketing Operations

  12. Typical Marketing Organizational Structure MARKETING DIRECTOR MARCOMM SALES PRODUCTDEVELOPMENT MARKETINGRESEARCH

  13. Customer Focused Team Structure Sales AccountManager Manufacturing Engineering EngineeringRep Mfg. Rep Customer ShippingRep PurchasingAgent Shipping FinanceRep Purchasing Finance

  14. HOW BUSINESS MARKETERS LEARN THE THREE-STEP PROCESS

  15. Tools to Generate New Knowledge • COGNITIVE MAPPING • Finding links of cause and effect through exploring beliefs and assumptions • EXPERIMENTS • Research that tests cognitive maps • LEARNING LABORATORIES • A physical environment set aside for learning through experiments, simulations, models and role playing • LEARNING FROM OTHERS • Getting knowledge from partners, consultants, seminars, and competitors.

  16. Cognitive Maps—MAP 1 Example: Kinko’s Observation Observation Observation More competitors means less business per store Kinko’s stores compete with each other when located in the same city because of free delivery service Have fewer stores in a city + =

  17. Two Cognitive Maps—MAP 2 Observation Observation Advertising drives awareness Each store has signage or advertising Conclusion 2 Assumption Observation More stores mean more awareness Have more stores in a city Higher awareness means more business =

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