The Value of Goods
To understand how people, but in this case Geoffrey B. Small looks at, but most importantly implements the marketing concept, marketing needs to be define. “Marketing is the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large”(Lamb, Hair, McDaniel, 2014). Marketing not only sells goods, services or ideas, but also delivers value and benefits to the customers. Marketing has four management philosophies: production, sales, market and societal orientations.
The production orientation focuses on the internal capabilities of the firm rather than on the desire and needs of the marketplace. In other words firms produce their specific goods and let the customer decided if that is what they need or not. Furniture stores are a good example of this type of orientation. The sales orientation philosophy is based on the idea that people will buy more goods and services if the sales techniques are aggressive and that high sales result in high profits. The sales orientation philosophy fails to understand the needs and wants of the marketplace they usually use aggressive incentives to obtain sales. The market orientation philosophy assumes that a sale does not depend on an aggressive sales force but rather on a customer’s decision to purchase a product. Within the market orientation philosophy there is the marketing concept, which it is the idea that the social and economic justification for an organization’s existence is the satisfaction of customers wants, and needs while meeting organizational objectives. One example of a market orientation company can be American Express who has had the ability to focus on their customers and adapt to their changing needs over the years. And finally the societal orientation philosophy that is the idea that an organization exists not only to satisfy customer wants and needs and to meet organizational objectives, but to preserve or enhance individuals’ and society’s long-term best interests. This orientation philosophy relates to the less toxic, more durable, contains reusable materials, or made of recyclable materials goods (green products).
After defining the four marketing management philosophies the marketing management philosophy implement by Geoffrey B. Small Company can be identify as the societal marketing orientation. Geoffrey’s company not only satisfies customers’ needs and wants but they also concerned with the environment and they are doing something about it. They do not only sale their goods to their customers but they give them goods of the very best quality, but custom made products that best fit their customers personal and individual needs, not like the perfectly made goods by machines that are everywhere. Geoffrey Company’s goods might take longer and might cost more than the other goods but when they get to the customers they can clearly see the different in quality, durability, value, and the most important that are made by a company who shares the same environmental concerned as them. Here is when the marketing concept takes place within Geoffrey’s company because they are not only satisfying their customers needs and wants but they are meeting their organizational objectives of playing an active important role in the community their live in and attract customers with the same interests as them.
Nowadays the Internet, Social Media, and Media are very important tools to advertise all products and goods. Each day more and more people draw on to all these tools to buy or inform themselves about the products they need and want. Geoffrey b. Small Company can use this new trend to talk about their goods, the whole process of the manufacturing since the beginning to the end, the kind of materials they use, and show them the value the would represent to them. Because like they stated, their products might cost more compare to some of the ones found at any regular store in the short-term but they have more value in the long-term.