Market/Consumer Oriented Marketing
What is Market/Consumer Oriented Marketing?
Market/consumer oriented marketing is a type of marketing which is based on the needs and wishes of the market or consumers. Different approaches can be used to reach and persuade the target audience but they are all driven by consumer demands. Market/consumer oriented marketing is most often used in combination with other marketing approaches.
The Rationale Behind Market/Consumer Oriented Marketing
Experts and companies that are utilising market/consumer oriented marketing rely on a very simple philosophy - a marketing campaign can achieve the desired effect only if it reaches consumers who are most likely to buy particular products/service and manages to persuade them that the product/service can meet their needs and wishes. Virtually every business has their own target audience and therefore, their success depends on the ability to reach and persuade the target audience by producing and marketing products that their target audience wants and can afford to buy.
Businesses that utilise market/consumer oriented marketing rely heavily on market research which provides invaluable information about what the market actually wants, while many also conduct measurements of customer satisfaction with the existing products/service. This enables businesses to develop/modify their products/service to meet the current market needs and make them more appealing to the target audience. At the same time, measuring customer satisfaction (it can be done in a number of ways including surveys) and introducing new/improving the existing products/service accordingly boost the company’s reputation and customer loyalty. Firstly, surveys and other approaches which measure customer satisfaction create an impression that the company isn’t only seeking to sell its products/service but also cares about how they are received by the target audience. And secondly, launching new or enhancing the existing products/service based on customer feedback makes the consumers feel that their opinion, wishes and needs are taken seriously.
Market/Consumer Oriented Marketing Strategies
Market/consumer oriented marketing uses a number of strategies to achieve its objectives. However, every strategy is based on a careful analysis of the market the goal of which is to obtain information about consumer needs and wishes which in turn serve as the starting point for both product/service development and marketing plan.
The strategies used to reach the target audience once the products/service that meet their needs are to be launched range from online marketing to new media campaigns and traditional marketing approaches. The choice of a strategy and media depends greatly on which group of consumers have been identified to be most likely to buy the products/service.