Identify the types of market orientation - philosophy being followed by the following companies

 

Scenario:

Suppose there are five different companies working in Pakistan, namely company V, W, X, Y, and Z. Each of the five companies follow a different market philosophy based on its missions, vision, goals, and objectives. ‘Company V’ focuses on being more effective than competitors in creating, delivering, and communicating consumer value to the chosen target. On the other hand ‘Company W’ concentrates on achieving high production efficiency, lower costs, and mass distribution. The company assumes that consumers are only interested in product availability and low prices. The aim of ‘Company X’ is to sell what they can make rather than focusing on what the market needs with an emphasis on aggressive selling and high promotional backup. ‘Company Y’ focuses on factors like environmental deterioration, resource shortage, explosive population growth, poverty, hunger, etc in addition to focusing on the needs, wants as well as value delivery to consumers. Whereas, ‘Company Z’ focuses its attention on making products superior and keeps improving the products. This company assumes that consumers admire and prefer well-made products and appraise quality and performance.

Requirements:

1. As per the provided scenario, identify the types of market orientation/philosophy being followed by the following companies:

Company V	The Marketing Concept
Company W	The Production Concept
Company X	The Selling Concept
Company Y	The Societal Concept
Company Z	The Product Concept