Importance of Market Orientation for Festival Industry

Market Orientation

Table of Contents
Introduction......................................................................................................................................1
Discuss and evaluate the importance of market orientation for festival industry............................1
Importance of customer orientation, competition orientation and inter-functional coordination
................................................................................................................................................2
How could a service industry adapt to the rapidly changing marketing environment.....................2
Conclusion.......................................................................................................................................3
References:.......................................................................................................................................4
Books and Journals.................................................................................................................4

Introduction
Market orientation is the contemporary marketing strategies in place of traditional one which
was product orientation, based on the concept of focusing on the selling points or attributes of a
product for the selling of goods rather than meeting the demands of the customers. Therefore it
can be said that market orientation is a business approach which prioritize identifying the needs,
desires and wants of the customer and create the products that perfectly matches and satisfy their
needs (Demirel and Kesidou, 2019). Freeman, a leaning event company in UK, was founded by
Donald S Buck Freeman in 1927 as a decorating office. Company have become from decorating
company to servicing events, conference and trade shows across United Kingdom through thee
technological evolution and changes in the customer and venues. Below mentioned report covers
concept of market orientation, importance of customer orientation, competition orientation and
inter-functional coordination; and how service industry adapt to the rapidly changing
environment.
Discuss and evaluate the importance of market orientation for festival
industry
Market orientation is the business approach used by the organisations in services industry
especially in festival or event industry where company takes into the account needs, desires and
wishes of the customer. Most of the event industry use marketing orientation approach that aims
to design and develop the events as per the needs of the customer. Whether, it is a part,
conference, meeting or a family get together, Freeman works completely as per the expectations
of the customers (Chen and et. al., 2019). Under marketing orientation Freeman uses this
approach to customise the events as per customer request rather than promotion. The concept
behind market orientation is to analyse the target audience and determine their desires and
wishes despite of carrying out any promotional or sales activity.
Market orientation in festive industry uses customer-centered approach where while
designing or conducting any event Freeman considers the taste and preference of the target
group, their immediate needs and desires. This type of marketing strategy focus on the values,
culture, beliefs, lifestyle and behavioural traits of a target market group.
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