Responsiveness to customer wants is the central focus of the marketing orientation. .
Societal Marketing orientation is defined as: The idea that an organization exists not only to satisfy customer wants and needs and to meet organizational objectives but also to preserve or enhance individuals" and society's long-term best interests. In other words, the societal marketing orientation holds that the firm should strive to satisfy customers need and wants while meeting organizational objectives and preserving or enhancing both individual's and society's long-term interests. For example, a company that recycles there products. .
2) In the Boston Consulting Group (BCG) portfolio matrix, SBUs can be classified into four types. List the four types, and for each type provide a specific, "real-life" example of a company's product or SBU that fits that category. .
Strategic business unit (SBU) is defined as: A subgroup of a single business or collection of related business with in the large organization. SBUs are classified into four categories: star, cash cow, problem child, and dog. .
These four types are part of the Portfolio matrix, that is defined as: Tool for allocating resources among products or strategic business units on the basis of relative market share and market growth rate. It classifies each SBU by its present forecasted growth and market share. The measure of market share used in the portfolio approach is relative market share, the ratio between the company's share and the share of the largest competitor.
Star is defined as: In the portfolio matrix, a business unit that is a fast market leader. Example: DELL, computer industry is a fast growing market. These manufacturers usually have large profits but need a lot of cash to finance rapid growth. Dell must use the tactic for marketing management to protect existing market share and to obtain a majority of new users entering the market.
