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