A market-centered company is a company paying balanced or equal attention to its customers as well as its competitors in planning its marketing strategies.
Nowadays companies must be market-centered, observing both their customers and their competitors. But they must not let competitors watching them blindly focusing customers.
According to Marketsaurus, a market-centered company refers to - “A company that focuses on the dynamics between buyers and sellers. Attention is focused on the needs and wants of customers and the offerings and performance of competitors. “
A company that spends most of the time concentrating on both customer developments and competitors while designing strategies is known as a market-centered company.
In today’s business world, competitive orientation is crucial, but the companies need to take care of the fact that they are not overdoing their concentration on competitors. So, becoming market-centered is the best available option for them.
Use of the term in Sentence:
- In today’s competitive business world, most successful companies are becoming market-centered because it is equally important for them to satisfy their customers as well as to focus on their competitors and an example of such a market-centered company is Google.
More from this Section
- Service perishability
Service perishability means that services cannot be stored for later sale or use ...
- Corporate VMS
Corporate VMS is a vertical marketing system that combines successive stages of production ...
- Competitive marketing strategies
Competitive marketing strategies- strategies that strongly position the company against ...
- Product Development
Product Development involves the substantial modification of existing products or the ...
Prospecting is the selling process in which a salesperson or company identifies qualified ...