Describe the characteristics of a market orientation.
Many firms have achieved great success by putting huge effort into implementing the marketing concept—the idea that an organization should (1) strive to satisfy the needs of consumers while also (2) trying to achieve the organization’s goals. Implementing the marketing concept creates a market orientation. An organization that has a market orientation focuses its efforts on (1) continuously collecting information about customers’ needs, (2) sharing this information across departments, and (3) using it to create customer value. LO.1