Define, explain and give examples of the five (5) marketing management orientations using the case study. Part 3: Case Study - Fyna FoodsRequired: Read the case study below and answerthe questions on Page 10FynaFyna Foods AustraliaAs he strode purposefully into the board room tomake his presentation to the firm's monthlydirectors' meeting, Fred Fahr, General Manager ofFyna Foods Ltd, felt just great. His confidence was that of someone who knows he has faced aproblem and can develop the right answer.'Ladies and gentlemen,' he began, 'as you are aware, two months ago we were given theopportunity to supply the Beefies Hamburger Chain with their new Supa-Long French fries (hotpotato chips). At the time, we all agreed this was a great potential business for Fyna Foods, butthat it also posed a major problem for us-what to do with the excess potato left over after wesupply Beefies with the extra-length fries. To dump this excess material would mean almostcertainly making a loss on the Supa-Long fries' business.'We found the answer by combining the excess potato material with other vegetables to create abreakfast burger,' Fred went on. I have to say the technical department has done a really goodjob and created a product that Fyna Foods can be proud of. Once we developed the product, Igave it to our marketing people and they've decided to call it "Bubble and Squeak" - it's what weused to call leftovers back in the 1960s. We've decided to advertise it as "The delicious breakfastalternative to bacon and eggs for families in the morning or snacks at night.''What about the factory?" one of the directors asked. This product doesn't look like anything weproduce at the moment.' 'Well, you know how our Production Department's managers are,'replied Fred. 'If the factory had its way, we'd never produce anything that wasn't quick and cheapto run through the machines. Anyway, we've agreed to pack the new line in boxes of 24 burgers,which nicely fits our packaging machinery. The factory was pleased with that.'The directors thought the Supa-Long contract is going to grow at about 10 percent per annum, sowe need to budget to increase Bubble and Squeak's sales by that amount each year. We do havea bit of a problem with the price, which I'm still working on. The Sales Department is concernedit won't be able to move these volumes of product at the price the accountants have given uswithout increasing the promotion budget substantially. The product development team has alsoproduced a super-premium quality product in the test kitchen which is too good for our targetmarket. I'm confident that we can reduce the costs down to a level that Sales Department cansell to customers.There was a general murmur of approval around the table. As it subsided, however, Fred noticedthat Bill Wyse, the recently retired Marketing Director of a large transnational food business hadhis hand raised waiting to catch the chairman's eye. As silence returned to the room, he spokefor the first time during the meeting. 'Well, Fred,' he said quietly. "You've obviously put a lot ofwork into this. I can tell you feel you've done a great job. But in my humble opinion, you don'tseem to appreciate what marketing is all about. The success of this product depends on gettingyour thinking right about marketing.' Needs, wantsand demandsTHÅRETMarketsFigure 1.2 Five core customer and marketplace conceptsMILKKFICCORE MARKETING CONCEPTSExchange,transactions andrelationshipsMarket offeringsValue,satisfactionand quality

Question

Define, explain and give examples of the five (5) marketing management orientations using the case study. Part 3: Case Study - Fyna FoodsRequired: Read the case study below and answerthe questions on Page 10FynaFyna Foods AustraliaAs he strode purposefully into the board room tomake his presentation to the firm's monthlydirectors' meeting, Fred Fahr, General Manager ofFyna Foods Ltd, felt just great. His confidence was that of someone who knows he has faced aproblem and can develop the right answer.'Ladies and gentlemen,' he began, 'as you are aware, two months ago we were given theopportunity to supply the Beefies Hamburger Chain with their new Supa-Long French fries (hotpotato chips). At the time, we all agreed this was a great potential business for Fyna Foods, butthat it also posed a major problem for us-what to do with the excess potato left over after wesupply Beefies with the extra-length fries. To dump this excess material would mean almostcertainly making a loss on the Supa-Long fries' business.'We found the answer by combining the excess potato material with other vegetables to create abreakfast burger,' Fred went on. I have to say the technical department has done a really goodjob and created a product that Fyna Foods can be proud of. Once we developed the product, Igave it to our marketing people and they've decided to call it &#34;Bubble and Squeak&#34; - it's what weused to call leftovers back in the 1960s. We've decided to advertise it as &#34;The delicious breakfastalternative to bacon and eggs for families in the morning or snacks at night.''What about the factory?&#34; one of the directors asked. This product doesn't look like anything weproduce at the moment.' 'Well, you know how our Production Department's managers are,'replied Fred. 'If the factory had its way, we'd never produce anything that wasn't quick and cheapto run through the machines. Anyway, we've agreed to pack the new line in boxes of 24 burgers,which nicely fits our packaging machinery. The factory was pleased with that.'The directors thought the Supa-Long contract is going to grow at about 10 percent per annum, sowe need to budget to increase Bubble and Squeak's sales by that amount each year. We do havea bit of a problem with the price, which I'm still working on. The Sales Department is concernedit won't be able to move these volumes of product at the price the accountants have given uswithout increasing the promotion budget substantially. The product development team has alsoproduced a super-premium quality product in the test kitchen which is too good for our targetmarket. I'm confident that we can reduce the costs down to a level that Sales Department cansell to customers.There was a general murmur of approval around the table. As it subsided, however, Fred noticedthat Bill Wyse, the recently retired Marketing Director of a large transnational food business hadhis hand raised waiting to catch the chairman's eye. As silence returned to the room, he spokefor the first time during the meeting. 'Well, Fred,' he said quietly. &#34;You've obviously put a lot ofwork into this. I can tell you feel you've done a great job. But in my humble opinion, you don'tseem to appreciate what marketing is all about. The success of this product depends on gettingyour thinking right about marketing.' Needs, wantsand demandsTHÅRETMarketsFigure 1.2 Five core customer and marketplace conceptsMILKKFICCORE MARKETING CONCEPTSExchange,transactions andrelationshipsMarket offeringsValue,satisfactionand quality

Accepted Answer

Marketing management orientation is where organizations start focusing on customers needs and wants…