discus about market orientation and profitability.. effect of connection of both relation..
Text of THE EFFECT OF MARKET ORIENTATION ON BUSINESS PROFITABILITY
1. THE EFFECT S OF A MARKET ORIENTATION ON BUSINESS PROFITABILITY Presented By: CHE MOHAMAD AZRUL BIN CHE LAH (2012102157) ZULKHANAIN BIN MAT ZAIN (2012146285) MUHAMMAD ARBAIN BIN MAT YUTI (2012930753) MUHAMAD AZLAN BIN ABDULLAH (2012349855) IZZAH AZIMAH BINTI NOH (2012717865
2. INTRODUCTION What is market? The place for people purchase and sales product and services. Concept of market Goods Services Person in charge that means (seller and buyer or manufacturer and customer) What is marketing? Marketing is managing profitable customer relationship, which is created value for customers in order to capture value from customers in return. 3. What is market orientation? Market orientation is a business approach or technique that focuses on identifying and meeting the stated or hidden needs or wants of customers. The function of market orientation: To study customer need and want Develop the relation between company and customer Produce the goods/ services. Important of market orientation to the manufacturer: to learn, know and understand the space or the competitive advantage and also stated the competitors weakness and strength. Explore the concept, define evaluation criteria and highlight the implication of surrounding that effect the manufacturer. 4. DIFFERENCES BETWEEN MARKET O R I E N TA T I O N A N D M A R K E T I N G O R I E N TA T I O N Market orientation is more than just a management function as production, finance and human resources, and it represents rather a management philosophy that should guide the overall organization. Marketing orientation is more treated like marketing concept and relate to the 4P which is focusing on customer orientation 5. KEY ELEMENT OF MARKET O R I E N TA T I O N There are also form base on the key element of market orientation (Hugo Daniel, 2010): Target market The customer relationship The marketing team Business profit 6. MARKET ORIENTATION CONCEPT Concentrate on customer wants and needs Combine all the organization activities Achieve long term goals 7. BUSINESS PROFITABILITY What Is Business? Is the organization that involved in the trade of goods, services or both to consumer with exchanged for one another or for money. Indeed, market is the places of business have done. What Is Business Profitability? Is the primary goal of all business ventures. Without Profitability Company, organization or business will not survive for the long-term of the business stand in market place. Income and expenses is the rate profitability 8. THE EEFECTS OF A MARKET ORIENTATION ON BUSINESS PROFITABILITY 9. Tools for Gaining Business Profitability Concentrate and ensuring the customers needs and want, fulfil the customer satisfaction. Market orientation and firm performance stated that achieve greater financial returns from advance quality by stressing generation income only, along with its highlighting focus oncustomer satisfaction. Manufacturer consider about customer ability and affordable. 10. Assist To Predict the Customer Change When we know what customer needs and wants, we may realize the change based on past and current sales. Climate or season may give an advantage to the organization in focusing and make it the product reliable and possible to the customer hand. 11. High in Cost High production cost. Need to keep going upgrade and produce the product. Although market orientation make the company increasing gain business profitability, it is not suitable for small mediumentrepreneur (SME) company and dogs stages in BCG. 12. CONCLUSION Connection between market orientation and the business profitability can be conclude as link or related to each other. Actually, element and concept of market orientation assist the organization to gain business profitability and motivate the organization or seller to be progressive production to keep them stable and sustain their profitability in the long period. Organization are able to works and establish and also maintaining which give an advantage to the customer. 13. By following the market orientation, tendency of an organization to legally, willingness and responsible to examine the informationwhich related to the competitors. Marketing products will run and flow smoothly in production regarding to build the higher business profitability. An organization will know their ability and strength.