Market Offerings
Market offerings refer to the products, services, or experiences that a company offers to satisfy the needs and wants of its target market. These offerings can include physical products, digital products, services, or a combination of these, and are designed to create value for customers. Companies develop and tailor their market offerings based on market research and customer insights to meet specific customer needs and preferences.
3 Key excerpts on "Market Offerings"
eBook - ePub- Ross Brennan, Louise Canning, Raymond McDowell(Authors)
- 2020(Publication Date)
- SAGE Publications Ltd(Publisher)
...It has described the elements of the product offering as a mixture of tangible and intangible components. We saw that the configuration of a product offering varies according to the complexity of underlying technology, customer expectations and business marketer positioning as a value-adding solutions provider. We then turned our attention to the major product offering management tasks that face business marketers: ensuring that the right marketing interventions are made with offerings throughout their life-cycle so that they add the greatest value they can to the firm, and ensuring that the portfolio of product investments that the firm has made are managed to ensure balance and thus greatest value over the long term. Recognizing that offerings do not just materialize from thin air, we then argued for the necessity to build innovation into the organization systemically. Successful product offerings require an organizational environment that prioritizes innovation, a culture that underpins this, and structures and processes to make it happen. Finally, having considered the environment within which innovation can occur, we focused in particular on one of the riskiest activities for business marketers, specifically the task of bringing the next generation of product offerings to market so that they too can add to the portfolio over time...
eBook - ePub- Simon Middleton(Author)
- 2012(Publication Date)
- Capstone(Publisher)
...Unless of course you happen to know that in the not too distant town there are more genteel and affluent folk who can and will pay a premium for your excellent furniture. Aha, you think, they have a need for chairs (we all do) and a want for really nice chairs such as mine! And you have a heck of a value proposition for them (superior hand-crafted chairs with a rustic touch). But what is going to make these highly desirable high-spending customers beat a path to your door? Well you can be certain that the value proposition alone won’t do the trick. No, what you need next is a ‘marketing offer’. The marketing offer is what brings the value proposition to life in a way that is relevant to your prospective customer. There are numerous elements to a marketing offer, but in essence it is this: the collection and combination of your product or your service (often both), plus the information you create and provide about it, plus the actual ‘experience’ of learning about, buying and using the product or service. In other words the marketing offer is the whole shooting match, the entire customer experience (tangible, financial, verbal, visual, behavioural, emotional). The marketing offer therefore embraces the value proposition but goes way beyond it. And that gives another handy description of marketing and its fundamental and unique character. Marketing begins long before the product exists, and it goes on long after the sale is made. Marketing thus embraces production as well as sales. When it comes right down to it, you can build the best mousetrap that the world has ever known and you can protect it with patents and trademarks to your heart’s content. But unless you create first a value proposition that meets the needs and wants of your customers, and then a marketing offer that ‘speaks’ to them, you ain’t going to make any money...
eBook - ePubThe Complete Marketer
60 Essential Concepts for Marketing Excellence
- Malcolm McDonald, Mike Meldrum(Authors)
- 2013(Publication Date)
- Kogan Page(Publisher)
...This makes implement ing the discipline of marketing difficult as it implies influencing the co-ordi nation of a wide range of organizational activities. Underlying this, however, is a set of ideas, principles and concepts that are relatively simple to understand, but which (like most simple things) are quite deep in their meaning. Getting to grips with marketing is thus a two-stage process: first, the development of an understanding of the discipline and its principles; and second, the application of these principles to individual circumstances. At the heart of the relationship between an organization and its customers is the product or service the organization offers or sells, which must match the wants and needs of its target customers. If one company offers a closer match, this will be to the disadvantage of its competitors. The process of creating this match, however, is complex. The substance of a matching relationship and the factors that affect it are at the heart of any understanding of marketing. The key question this approach generates is thus: ‘What will make a potential customer want to enter into an exchange with our organization as opposed to another?’ In other words: ‘Why will they buy our product, give to our charity or co-operate with our service, given that they have plenty of choice?’ The answer to this question is a long list of different factors. Some of these will be under the control of the supplying organization, while others will be beyond their control but can still fundamentally affect their chances of completing the exchange. No matter how good a product is, other factors such as interest rates, new laws, fashion, etc, can affect its attractiveness to customers. In order to make sense of these factors and to put them into an understandable form, they are usually classified as the marketing mix and the marketing environment...
