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