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