A market-focused, or customer-focused, organization first determines what its potential customers desire, Cheap White Gold Earrings and then builds the product or service. Marketing theory and practice is justified in the Cheap Flights To Casa Blanca belief that customers use a product or service Cheap White Gold Earrings because Cheap White Gold Earrings they have a need, or because it provides a perceived benefit.
Two Cheap White Gold Earrings major factors of marketing are the recruitment of new customers (acquisition) and the retention and expansion of relationships Cheap White Gold Earrings with existing customers (base management). Cheap White Gold Earrings Once a marketer has converted the prospective buyer, base management marketing takes over. The process for base management shifts the marketer to building a relationship, nurturing the links, Cheap White Gold Earrings enhancing the benefits Cheap White Gold Earrings that sold the buyer in the first place, and improving the product/service continuously to protect the business from competitive encroachments.
For a marketing plan to be successful, the mix of the four "Ps" Cheap White Gold Earrings must reflect the wants and desires of Cheap White Gold Earrings the consumers or Cheap White Gold Earrings Shoppers in the target market. Trying to convince a Cheap White Gold Earrings market segment to buy something they don't want is extremely expensive and seldom successful. Marketers depend on insights from marketing research, both formal and informal, to determine Cheap White Gold Earrings what Cheap White Gold Earrings consumers want and what they are willing to pay for. Marketers hope that this Cheap White Gold Earrings process will give them a sustainable Cheap White Gold Earrings competitive advantage. Marketing management is the practical Cheap Flights To The States application of this process. The offer is also an Cheap White Gold Earrings important addition to the 4P's Cheap White Gold Earrings theory.
Within most organizations, the activities encompassed Cheap White Gold Earrings by the marketing Cheap White Gold Earrings function are led by a Vice President Cheap White Gold Earrings or Director of Marketing. A growing number of organizations, Cheap White Gold Earrings especially large US companies, have a Chief Marketing Officer position, reporting to the Chief Executive Officer.
The American Marketing Association (AMA) states, �Marketing is the activity, set of institutions, and processes for creating, Cheap White Gold Earrings communicating, Cheap White Gold Earrings delivering, and exchanging offerings that have value Cheap White Gold Earrings for customers, clients, partners, and society at large.".
Marketing methods are informed by many of the social sciences, particularly psychology, sociology, and economics. Anthropology is also a small, but growing influence. Market research underpins these activities. Cheap White Gold Earrings Through advertising, it is also related to Cheap White Gold Earrings many Cheap White Gold Earrings of the creative arts. Marketing is Cheap White Gold Earrings a wide Cheap Hotel Madrid and heavily interconnected subject with extensive publications. It is also an area of activity infamous for re-inventing itself and its vocabulary according to the times and the culture.
Many companies today have a customer focus (or customer orientation). This implies that the company focuses its activities and Cheap White Gold Earrings products on consumer demands. Generally there are Cheap White Gold Earrings three ways of doing this: the customer-driven approach, the Cheap White Gold Earrings sense of identifying market changes and the product innovation approach.
In the consumer-driven approach, consumer wants are the drivers of all strategic marketing decisions. No strategy is pursued until it passes the test Cheap White Gold Earrings of consumer research. Every aspect of a market offering, including Cheap White Gold Earrings the nature of the product itself, is driven by the Cheap White Gold Earrings needs of potential Cheap White Gold Earrings consumers. The starting point is always the consumer. The rationale for this approach is Cheap White Gold Earrings that there is no point spending R&D funds developing products that people will not buy. Cheap White Gold Earrings History Cheap White Gold Earrings attests to many products that were commercial failures Cheap White Gold Earrings in spite of being technological breakthroughs.
A formal approach to this customer-focused marketing is Cheap White Gold Earrings known Cheap White Gold Earrings as SIVA[3] (Solution, Information, Value, Access). This system is basically the four Ps renamed and reworded to provide a customer focus.
The SIVA Model provides a demand/customer centric version alternative to the well-known 4Ps supply side model (product, price, place, promotion) of marketing management.
In a product innovation approach, the company pursues product innovation, Cheap White Gold Earrings then tries Cheap White Gold Earrings to develop a market for the product. Product innovation drives the process and marketing research is conducted primarily to ensure Cheap White Gold Earrings that a profitable Cheap White Gold Earrings market segment(s) Cheap White Gold Earrings exists for the innovation. The rationale Cheap White Gold Earrings is that customers may not know what options will be available to them in the future so Cheap White Gold Earrings we should not expect them to tell us what they will buy in the Cheap White Gold Earrings future. However, marketers can aggressively over-pursue product innovation and try to overcapitalize on a niche. When pursuing a product innovation Cheap White Gold Earrings approach, Cheap White Gold Earrings marketers must ensure that they have a varied and multi-tiered approach to Cheap White Gold Earrings product innovation. It is claimed that if Thomas Edison depended on Cheap White Gold Earrings marketing research he Cheap White Gold Earrings would have produced larger candles rather than inventing light bulbs. Cheap White Gold Earrings Many Cheap Student Domestic Airfares firms, such as research and development focused companies, successfully focus on Cheap White Gold Earrings product innovation (Such as Nintendo who constantly change the way Video games are played). Many purists doubt whether this is Cheap White Gold Earrings really a form of marketing orientation at all, because of the ex post status of consumer research. Some Cheap White Gold Earrings even question whether it is marketing. |
