Marketing
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.
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2 Key excerpts on "Market Offerings"
eBook - ePub- Ross Brennan, Louise Canning, Raymond McDowell(Authors)
- 2020(Publication Date)
- SAGE Publications Ltd(Publisher)
- This chapter has focused on the activities that business marketers need to undertake in the management of offerings to business customers. 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. During the consideration of new offering development, we described a well-established process for ensuring that the inevitable risk involved in the task of bringing offerings to market is as low as possible.
eBook - ePubThe Complete Marketer
60 Essential Concepts for Marketing Excellence
- Malcolm McDonald, Mike Meldrum(Authors)
- 2013(Publication Date)
- Kogan Page(Publisher)
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. The marketing mix is the offering we control; the environment is the set of uncontrollable variables within which the marketing process takes place.
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