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The line graph presents the evolution of marketing activities ranging from production orientation to consumer and market orientation. It is apparent that what graph represents reflects the theory of marketing orientations. The only type of orientation that is missing from the visual is the societal marketing concept. Societal marketing concerns itself not only with the company’s interests and customers’ wants but also with society’s ends that need to be satisfied in the long haul. The concept makes a part of corporate social responsibility that states that after a certain point, companies should shift focus from pursuing higher profits to giving back to the community (Demirag, 2018). Societal marketing orientation helps a company recognize its role in providing members of society with value and where possible, addressing social ills and environmental concerns. An example of societal marketing is Chipotle – a US-based Mexican-style restaurant chain that supports local farming businesses and provides the customer with healthy, organic food.
There is a great deal of debate as to which marketing orientations are relevant and which are falling off both in theory and practice. It seems that consumer and market orientation will not lose its relevance anytime soon. The global market is characterized by fierce competition winning which requires understanding customers’ needs and wants. Businesses grow more customer-oriented than ever since customers are spoilt for choice and enjoy low switching costs. Recent statistics show that up to 81% of customers are doing pre-research before even considering a product or a service (Ellet, 2018). They prefer to compare and contrast alternatives as well as check a company’s background before making a decision. For this reason, businesses gain a competitive advantage by building a reputation for being caring, responsive, and responsible and seeking to understand their customers.
References
Demirag, I. (Ed.). (2018). Corporate social responsibility, accountability and governance: Global perspectives. Routledge.
Ellet, J. (2018). New research shows the growing impact of online research on in-store purchases.Forbes. Web.
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