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