The following sample essay talks about what market orientation is. To read the introduction, body, and conclusion of the essay, scroll down.
The case of What the Hell is ‘Market Oriented’ analyses the Wolverine Controller Company. The company’s president and vice presidents had gathered to examine why their sales and earnings were off and market share was down in all product lines. The president calls a meeting in French Link, Indiana to observe the problems and solve them with his Vice Presidents.
In the beginning of the meeting the president emphasizes the seriousness of the problems and gives a clue about how to survive.
According to him the only way to get out of this mess is for them to become customer driven or market oriented. While he points out the way of run from this mess is ‘Market Oriented’, the marketing vice president understands it ‘Marketing Oriented’ and this is why the company cannot deal with problems because they are lack of communication and interaction.
In this meeting every vice president defended on his or her department. Namely they do not see the departments as a whole; they just act as a self-centered.
For example; according to the sales VP, if they have more salespeople, the company can grow faster, Manufacturing VP points out the hurdles occur because of the lack of technology in machinery, each vice president imply their department’s issues but no one does not imply the most important recipe: ‘Market Oriented’.
Therefore what is ‘Market Oriented’? According to the text, if you have one sentence for ‘Market Oriented’ it should be ‘A set of process touching on all aspects of the company’ and it has three characteristics make a company market driven or market oriented. – ) Information on all important buying influences permeates every corporate function This topic emphasizes the condition for being market oriented needs to understood the markets and people who want to buy its products and services. It is important for companies to choose them a customer segment because companies cannot satisfy all of their customers equally and the customer segment’s opinion is very important for companies to grow up.
There are some ways to get feedback from customers, for example; companies should have total free 800 numbers and company stuffs should visit their customers to get new ideas for products. 2- ) Strategic and tactical decisions are made interfunctionally and interdivisionally. This topic emphasizes that each function and division must be thought as a whole thing. Each department should advise to other and each of them should be open minded. 3- ) Divisions and functions make ell-coordinated decisions and execute them with a sense of commitment This topic emphasizes the importance of communication, interaction and collaboration for the company’s success. If the companies do not use these tools effectively, cannot be successful even the products are good. It is the first step for ‘Market Oriented’ when Wolverine in gathering everybody in French Lick. Thanks to this meeting president and vice presidents understand what to do for achieving success, they choose 20 customers to visit and collect information from them for analyzing the customer needs.
Consumers are not only the important issue for them but also competitors are important as well. They choose 7 competitors for analyzing. They divide the tasks among departments and decide which department will do what task? After the plan started, the relationship among departments are changed, staff become open minded and can say their own ideas, and take more responsibility than past, the sales and earnings are slowly increased, stock price comes to oneself.
After one year, Wolverine’s management group had gathered in French Lick again with their MIS VP. The new plan takes some concerns, one of them is how cope with inordinate demand, the other is how to touch ‘Market Orientation’ more, but they can handle these issues as well thanks to their interaction and communication to each other. Finally, Wolverine prove its self as a ‘Market Oriented’ company by thinking customers and the corporation as a whole, collecting data from customers and then analyzing it and having departments participate in a competition.