Answer: There are 5 kinds of market orientation
1. The Production Concept: According to this theory, buyers like widely available and inexpensive goods. When implementing this idea, managers focus on achieving high production efficiency, cheap prices, and widespread distribution. They presume that accessibility and affordability of products are what consumers are most concerned with. In poor nations, where consumers are more focused on getting the goods than on their features, this perspective makes sense.
2. The Product Concept: This orientation holds that consumers will favor those products that offer the most quality, performance, or innovative features. Managers focusing on this concept concentrate on making superior products and improving them over time. They assume that buyers admire well-made products and can appraise quality and performance.
3. The Selling Concept: It holds that consumers and businesses if left alone, will ordinarily not buy enough of the selling company’s products. The organization must, therefore, undertake an aggressive selling and promotion effort.
4. The Marketing Concept: It holds that the key to achieving its organizational goals consists of the company being more effective than competitors in creating, delivering, and communicating customer value to its selected target customers. The marketing concept rests on four pillars: target market, customer needs, integrated marketing, and profitability.
5. The Societal Marketing Concept: This concept holds that the organization’s task is to determine the needs, wants, and interests of target markets and to deliver the desired satisfactions more effectively and efficiently than competitors. Additionally, it holds that this all must be done in a way that preserves or enhances the consumer’s and society’s well-being.
The most suitable kind of marketing orientation is the societal marketing concept as it follows the rule of creating, communicating, and delivering value to customers rather than selling any product to the customers.