Summary: Theories Of Marketing

Read the summary and the most important questions on Theories of marketing

• 1 Topic 1

• 1.1 Reading questions

• What do Slater & Narver meant by market orientation in their original article?

  Market orientation is a cultural mindset of a company that reacts on the preferences of their customers and what the competition does.

• How did Slater & Narvers view on market orientation change in their newer article?

  They added that market orientation could also be proactive.

• Does the network paradigm as proposed by Narver & Kotler (2012) make the market orientation idea obsolete?

  Up to some degree, both ideas can coexist as the network paradigm mostly focuses on integrating all the companies of one consumption experience and not on the competition.

• Wil the customer experience concept make market orientation obsolete?

  In many ways, customer experience management is better than the market orientation approach. Although, I can imagine that some companies might still make the choice to not switch as being proactive might come with taking more risks.

• How is the idea of customer experience management related to the new network paradigm that Achrol & Kotler (2011) propose - are they contradicting each other or supporting each other?

  In the network paradigm, customer experience also plays an important role. In fact, one of the most important developments is the shift from exchange to experience. This means that they are supporting eachother.

• Does the 1998 paper by Slater & Nater imply that their original idea and definition of market orientation does not hold anymore?

  Up to some degree, they say it is obsolete. They introduced a variant that is more proactive and therefore is not really market orientation.

• How will the ideas expressed about the network paradigm influence our marketing thinking and the marketing actions of companies?

  It will shift marketing from a transaction-based approach to creating a customer experience. Making companies in a chain cooperate more to accomplish this.

• What is an example of the network paradigm?

  How Nespresso creates a coffee experience by owning even the machine part and the distribution. Instead of only pushing coffee to the customers. For this, it works together with suppliers that produce machines and makes sure that the entire process is as sustainable as possible.

• Will the new market paradigm make the market orientation concept obsolete?

  Some say it will and it does expand on the concept up to some degree. Although, it is a big step to closely work together with all parties. Therefore, some companies might stick to a market orientation.

• 2 Topic 2: Consumer insights & motivations

• 2.1.1.1 Introduction

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• What is a consumer?

  Consumers consume products that are generated by the economy.