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Market Orientation

In: Business and Management

Submitted By kroy79
Words 4992
Pages 20
The core business of my company is ship management, the parent company owns a fleet of seventy ships and charters an equal number, majorly comprising of oil tankers and bulk carriers. The fleet management of the owned tonnages are carried out from offices based in Rome&Singapore. The chartering and pre- post fixture operations of the owned & chartered tonnages are carried out from shipping business hubs across various time zones like Singapore , Dubai, Monte Carlo , London, Stamford .For our owned tonnages we are a functional department for the chartering division who are marketing the ships. As ship managers we market our expertise on third party ship management to other ship-owners. We are also involved in new ship building consultancy services which need the marketing of our technical expertise. The economic crisis of 2008 and the ongoing euro zonecrisishave changed the global economic landscape,affecting trade and movement of goods along major shipping routes. Economic slowdown compounded with surplus global tonnage have put ship owners, financers, investors, creditors and other participants in the market in a state of disarray with questions of bankruptcy and restructuring engulfing them. As no immediate market recovery is projected, shipping companies are trying to develop new strategies to remain competitive and as well achieve better performance.Theproven pathway to achieve that is by developing marketing and marketing orientation. Marketing in merchant shipping activities is essentially B2B , where the customer orientation involves the satisfaction of owner, charter - shipper needs for...

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