Advantage And Benefits Of Marketing Orientations To A Company

Task 1b Benefit and Cost
Marketing orientation which also known as marketing concept, is a concept that a company identifies the needs and wants of target markets and delivers the desired satisfaction in order to achieve organizational goals such as earning profits and satisfying customers. According to marketing concept, customers’ value and satisfaction is the ways to sales and profits instead of just producing and selling the products and services to the customers. Marketing orientation will benefits a company but also will incur some cost to the company.
One of the benefits of adopting marketing orientations to a company is increasing sales and profits of the company. The sales and profits of a company can be increased due to the adoption …show more content…
A company that adopts marketing concept, will identify the needs, wants and demands of the customers but not only provides products and sells to the customers. A company that adopt marketing concept is more likely to satisfy the customers rather than get sales and earn profits, as the company understands clearly that loyalty of the customers is vital to the company in order to survive and remain competitive in the market. A company that take customers’ value and satisfaction as top priority, will offer the best and suitable products and services to the customers, so that the company can maintain the loyalty of customers and get new customers. Thus, a company will get greater value and satisfaction from the customers. For example, KFC Malaysia understands that customers need foods and drinks, so KFC Malaysia offers various choices of foods and drinks to the customers to satisfy their basic needs (KFC Malaysia, n.d.). In addition, KFC Malaysia also understands that most of the customers wish to purchase and fulfil their basic needs at the lowest price, so that customers can afford the prices of the foods and drinks and demand for more type of foods and drinks. For example, KFC Malaysia has provide discount coupons to the customers, so that customers can enjoy their meals at KFC Malaysia with lowest price (Malaysiafreebies.com, …show more content…
A company have to make more investment to carry out research on the customers in order to understand clearly their needs, wants and demands. A company not only research on current needs, wants and demands of the customers, but also predict the future needs, wants and demands of the customers. A company try to offer new products and services in order to let customers realize their needs for the products and services. For example, KFC Malaysia has invest money in research and development in order to predict and understand more clearly on the customers’ needs, so that customers will be attracted to purchase at KFC Malaysia. Besides, KFC Malaysia has also consuming their time to carry out the research as well as recruiting professional expertise to oversee the research project. KFC Malaysia may incur huge compensation for human resources as KFC Malaysia hiring professional expertise to carry out the research to determine the needs of customers in the