Foundations of Marketing Essay Example | Topics and Well Written Essays - 1500 words

Foundations of Marketing - Essay Example When a company bases its operations on a production orientation, the thinking adopted is that â€Å"consumers favour products that are available and highly affordable†. The focus is on improving production and distribution side of the business. The product concept holds that consumers choose products, which are of superior quality and carry innovative features. Continuous product improvement gets the priority. Product orientation carries the danger of being susceptible to marketing myopia where the company fails to see the broader market needs which it is fulfilling but concentrates too closely on the product itself. Many organisations still favour the selling concept where the focus is on large-scale promotional and selling efforts. However with the customers getting more and more sophisticated and possessing high level of product and market information, hard selling tactics are no longer the preferred mode. The forth alternative is the marketing approach where the underlying belief is that â€Å" achieving organisational goals depend upon determining the needs and wants of target markets and delivering the desired satisfactions more effectively and efficiently than competition†. The main focus lies in identifying and meeting the customer needs effectively and profitably. Final and newest marketing concept is societal marketing where the focus is to balance the needs of the company with consumer’s short-term needs as well as overall long-term needs of society.

Female Entrepreneurship in comparison with male entrepreneurs Coursework

Female Entrepreneurship in comparison with male entrepreneurs - Coursework Example It a psychologically belief that their efforts are considered to be untrained and unskilled in comparison to their counterparts. Various researches on entrepreneurship relate to male distinctiveness and focused mainly onto male-dominant area. Few studies considered the female individuality of entrepreneurship with their related actions. Women always had to put some extra effort in order to succeed in putting up a business and then maintaining it in a male dominated working environment. Therefore, women had to gain extra assets through other connections and networking. Mainly women who belong to subordinate classes need major support from their families and friends and the tie ups they make in between through negotiations, in order to set up and maintain a business. Whereas, women from high class families or from middle class families, could independently initiate their business through contacts with their colleagues or with the members of the chamber and association. Moreover, there can be a personal ambition or drive to set up a business of its own or else some other external reasons like the fight to survive, where women believe on their social contacts and networks and utilize it completely to shape up their business entity. II. Female entrepreneurship in comparison with male entrepreneurship: Various studies have reflected that female and male entrepreneurs vary in respect of: their production outcomes; the motivations they get to start up a business; the effort they put up for the progress of their business entity; the extent of their business start-ups; the sort of business they want to start; the performance potential they expect to have for their set up; their preference for any project risk; the technique they apply to identify various business opportunities; the assurance they have in their efforts for start-up; and the consequences that they need to face (Brush, 1992; Carter et al., 1997; Srinivasan, et al., 1993; Boden, 2000; Office of Advocacy, 200 6; Robb and Wolken 2002 ). II. 1. Performance of firms Studies have highlighted that the presentation of new projects led by females lag behind to that led by males. For ventures led by females, factors like sales growth, employment growth, compensation and venture endurance are all considered to be low. (Boden, 2000; Office of Advocacy, 2006; Robb and Wolken 2002; Srinivasan, et al., 1993). The firms owned by women have inferior sales margin and hence could occupy lesser people in their business than that of men-owned enterprises (Fischer et al., 1993). For example, in 2002 the firms owned by females generated about 87585 dollar sales and had employed about 7.79 people in comparison to 12.04 employees and 1862159 dollar sales for those led by men (Office of Advocacy, 2006). Women-owned firms also gained less income than that by men. They generate an average of only 78% of the profit in a similar business led by men. (Robb and Wolken, 2002). Furthermore, 46% of freelanced women earn less than 15000 dollar in 1998, whereas only 21% of freelanced men earned this amount. On the contrary, 16% of freelanced men earned higher than 95,000 dollar, in comparison to 4% of women (Office of Advocacy, 2001). New projects led by women have little chance to survive eventually than the