Explain the different marketing orientations and discuss their application in marketing of financial services.
Marketing orientation is a business philosophy that emphasizes the importance of understanding and meeting the needs of customers in order to achieve long-term success. There are different marketing orientations that organizations can adopt, each with its own focus and approach. we will discuss the different marketing orientations and their application in the marketing of financial services.
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Production Orientation: Production orientation is a business philosophy that emphasizes maximizing efficiency in production and distribution, and assumes that consumers will seek out products that are widely available and low in cost. This approach is best suited for products that are in high demand and where cost is a major consideration for the consumer. Financial services, on the other hand, are more complex and require a more customer-centric _____ __________ ___ ______ ________ ______ _____ _________ _________ _____.
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