Marketing Concept And Market Management †Myassignmenthelp.Com

Question: Discuss About The Marketing Concept And Market Management? Answer: Introducation The success of a business is based on the alignment of the organizational goals and objectives, as they are the primary identity of the business (Leitch and Davenport, 2011). The focus in this realm is to identify the goals of the vision are they are the representation of organizational vision and functions on the measurable actions a company eventually takes to achieve business success. Whether the goal of the business is profitability, customer service or efficiency or even growth, it also becomes a representation of the culture of the organizational, and hence is one of the most important variable for any business framework (Leitch and Davenport, 2011). In this sense, a closer review at the Nike objective concur that the company strives to ensure an objective of constant growth, and for this are entering new markets, aligning technology, harbouring a culture of innovation and generally improving the brand and marketing presence through quality (Nike, 2017). The presence of the cor porate objective that focuses on the intensifying products for the mature audience as well as women is also reflective of the growth based corporate objective of Nike. Through this alignment, it is evident that corporate culture is a viable business quotient which forms the blueprint for any business. Marketing orientation concepts The marketing concepts is a philosophy that reflects a need of the alignment of the business objectives to the needs of the customers by a company (Ferrell et al. 2010). Even as more and more business today are aligning their business models in terms with the consumer needs, this practice was not evident earlier, and earlier for many businesses, profitability, equipment and service was the core marketing model. In their review, Ferell et al (2010) reflects that a Marketing Orientation is a plan of action where the focus of the organization is on conveying products designed and produced as by client wishes, needs, and necessities, and notwithstanding product usefulness and production effectiveness. This model is in direct contrast to the production orientation model adapted by the anarchic organizational frameworks, and is more reliant in terms of sustainability needs of the present and future client needs, thus enabling their prolonged association (Ferell et al. 2010). In the context of Nike, it is noted that the company has long since been a consumer centric organization as it has an understanding of the target audience and is constantly trying to innovate products to consensus to the adapting and evolving consumer needs. Core marketing strategy The core marketing strategy of Nike is inspiration and innovation enabling for the athletes. Nike aspires to constantly grow and inspire (Nike, 2017) and through this enable a culture of achievement and development and rising above the competition. This culture is evident in the company product as well as the organizational culture and their core business objectives. In the context of marketing, the adaptation of Michael Jordan as the spokesperson of the brand and inclusion of Air Jordans as the primary product reflected superior performance to the consumers, while motivating athletes (Lechner and Boli, 2014). This strategy further raised the revenues for the company to $100 million in the first year alone similarly in the 2008 Olympics, Nike expanded overseas to Europe, and captured the interest of the soccer audience (Lechner and Boli, 2014). The strength of this strategy is evident in the allegiance, and brand identification. However, this strategy has also limited the identity of the brand that caters to the athletes and professionals, as opposed to common man that cares for their wellness (Lechner and Boli, 2014). Fortunately, over the years, the company is evolving from this psychology and gaining a more holistic brand presence for itself. Reference Ferrell, O., Gonzalez-Padron, T., Hult, G. and Maignan, I. (2010) From Market Operetions to Stakeholder Orientation. Journal of Public Policy Marketing: Spring. 29 (1): 93-96. Lechner, F. and Boli, J. (2014). The Globalization Reader. John and Wiley sons. Leitch, S. and Davenport, S. (2011). Corporate identity as an enabler and constraint on the pursuit of corporate objectives. European Journal of Marketing. 45 (9/10): 1501-1520, https://doi.org/10.1108/03090561111151862 Nike (2017). Website.