Role of Market-oriented mission statement in marketing
Introduction: In a market, customers are considered as a kingpin. The mission is a statement that focuses on buyer retention and satisfaction and not on the product. This assertion is framed to attract consumers and improve sales to achieve organizational goals. The meaning of the mission statement is to identify different marketing areas and collect the important information related to the buyer so that we can create the commodity coding to the needs of the consumer.
If you need to find out whether the mission statement is good or not and Market Oriented then the best way is to analyze the organizational goal. If these goals are measurable and attainable, then it reflects the goal-achieving capability of the company.
The main aim of any mission statement of the computer is to create it market-oriented.
What is the mission statement in marketing?
A mission statement is a kind of detailed summary of a company that consists of different details regarding the product formation and may have several variations depending upon length, content specification, and format. Various components are stated in the mission statement by the strategic management marketers for the product marketers and managers.
Aspects of the market-oriented mission statement
The essential information is specified in the mission statement because it is visible to the public. Some components are stated below:-
- Customers: Customers are the kingpin of the corporation so that the mission document must focus on retaining the buyer retention and furnishing the information related to them also it was a specified what kind of customers are required by the Enterprise
- Products or services: The companies must specify the major product or services produced by that organization
- Markets: To know the market there is a need to know the market area where the firm is going to survive the competitors, the following business policies, and the marketing area, where does the firm compete.
- Technology: What kind of technology is used by the forms to produce the food whether it is a capital intensive company or labor-intensive company.
- Concern for survival, growth, and profitability: Discussing the kind of organizational company commitments that are made by the firms to achieve their financial and economic goals?
- Philosophy: The core values and beliefs systems aspirations and different theories and philosophies of the companies must be specified to develop better accountability.
- Self-concept: The strengths, weaknesses, and opportunities of the companies need to be mentioned in the mission statement of the company to understand the competitive advantage within the market segment.
- Concern for public image: They must specify in the mission statement different concerns related to the public so that they will be able to create trust in your company.
- Concern for employees: Also the company must specify the attitude and the behavior towards the employees and the organization and introduction and orientation programs conducted for them. Companies can provide extra perks and extra benefits to motivate the employees and help the organization grow.
- Target market: Main focus is on the customers of a particular targeted area or target audience.
- Contribution: which products are produced by the company and what is the contribution of that product.
- Distinction: Specify the type of unique features and specifications of the commodity and how it is different from other products and why it should be purchased by the customers. All these must be mentioned in the mission statement of a company.
Written By — Ishani Saxena
