Commercial Applications
Answer
The marketing-oriented stage (1960–1980) emerged due to keen competition and growing consumer awareness. In this stage:
- Producers realised that business policies and programmes should be built around the goal of customer satisfaction.
- Management began to think of itself not as producing products but as providing value satisfaction to customers.
- The aim of marketing was to know and understand the customer so well that the product or service fits him and sells itself.
- The consumer was considered the 'king' and customer satisfaction became the principal reason for corporate existence.
Related Questions
In which stage, importance to consumer satisfaction was recognised and business policies were designed to provide value satisfaction to customers?
- Sales-oriented stage
- Marketing-oriented stage
- Social-marketing stage
- Consumer-oriented stage
Define the term 'market'.
What is meant by inhouse market?
Give two differences between the production oriented stage and product oriented stage of marketing.