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Many companies nowadays tend to focus more on earnings and get more profits so as to conquer the largest market share. However, one important thing which they should not forget during this endeavour is the customer. The customer is the one who can help the business man achieve his objectives. Hence the term – customer oriented marketing.
In the need of making more money to remain viable, companies can choose between focusing on introducing innovative products for which currently there is no demand and demand needs to be created (push strategy) or introduce products based on the needs of customer (pull strategy). The latter one is known as the customer oriented marketing strategy.
High sales volumes and increased profit margins can also be achieved through a customer oriented marketing strategy and according to the statistics it might be achieved with even better results then through traditional strategies.
Focusing on a customer oriented marketing strategy equals putting the customer in the center of all you goals and strategies. Basically this strategy focuses on the customers’ needs and their satisfaction. For getting a better overview of them, the simplest step is to pay attention and to evaluate your competitor’s offer in contrast with your customer’s needs and identify which of those needs are not met by your opponents.
The main ingredient in the customer oriented marketing consists in research of your customer’s needs. The research can involve focus group discussions, surveys, interviews, feedbacks, etc. Investing in the research of the customer behavior, considered a prior step before proceeding to product development, involves high costs, and this can be one of the main disadvantages.
But if we were to take into consideration that customers who purchase more frequently are more cost attractive than chasing new customers, the strategy might seem more profitable and sustainable. Happy and satisfied customers are going to continue to buy from you. Moreover they are going to spread the word to their family and friends, thus helping to enlarge your customer base.
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