A market-focused, or customer-focused, organization first determines what its potential customers desire, and then builds the product or service. Marketing theory Cheap Flight London Prague and practice is justified in the belief that customers use a product or service because they have a need, or because it provides a perceived benefit.
Two Cheap Flight London Prague major factors of marketing are Cheap Long Stay Travel Insurance the recruitment of new customers (acquisition) Cheap Flight London Prague and the retention and expansion of relationships Cheap Flight London Prague with existing Cheap Flight London Prague 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 relationship, nurturing the Cheap Flight London Prague links, enhancing the Cheap Flight London Prague benefits that Cheap Flight London Prague sold the buyer in the first place, and improving the product/service continuously to protect Cheap Flight London Prague the Cheap Louisville Ky Apartments business from competitive encroachments.
For a marketing plan to be Cheap Flight London Prague successful, the mix of the four "Ps" must reflect the wants and desires of the consumers or Shoppers Cheap Flight London Prague in the target Cheap Flight London Prague market. Trying to convince a market segment to buy something they don't want is extremely Cheap Flight London Prague expensive and seldom successful. Marketers depend on insights from marketing research, both formal and informal, Cheap Flight London Prague to determine what consumers want and what Cheap Flight London Prague they are willing to pay for. Marketers hope that this process will give them a Cheap Flight London Prague sustainable competitive advantage. Cheap Flight London Prague Marketing management is the practical application of this process. The offer is also an important addition to the 4P's theory.
Within most organizations, the activities Cheap Flight London Prague encompassed Cheap Flight London Prague by the marketing function are led by a Vice President or Director of Marketing. A growing number of organizations, especially large US companies, have a Cheap Flight London Prague Chief Marketing Officer position, reporting to the Chief Executive Officer.
The American Marketing Association (AMA) states, �Marketing is the activity, set of institutions, and Cheap Flight London Prague processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large.".
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Marketing methods are informed by many of the social sciences, Cheap Flight London Prague particularly psychology, Cheap Hawaii Wedding sociology, Cheap Flight London Prague and economics. Cheap Flight London Prague Anthropology is also a small, but growing Cheap Flight London Prague influence. Market research underpins these activities. Through advertising, it is also related to many of the creative Cheap Flight London Prague arts. Marketing is a wide and heavily interconnected subject with extensive publications. It Cheap Flight London Prague is also an area of activity infamous for re-inventing itself and its vocabulary according to the times and the Cheap Flight London Prague culture.
Many companies today have a customer focus (or customer orientation). This implies that the company Cheap Flight London Prague focuses its activities and products on consumer demands. Generally there Cheap Flight London Prague are three Cheap Flight London Prague ways of doing this: the customer-driven approach, the sense of identifying market changes and the Cheap Flight London Prague product innovation approach.
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A formal approach to this customer-focused marketing is known as SIVA[3] (Solution, Information, Value, Access). Cheap Flight London Prague This Cheap Flight London Prague system is basically the four Ps renamed and reworded to Cheap Flight London Prague provide a customer focus.
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The SIVA Model Cheap Flight London Prague provides a demand/customer centric version alternative to the well-known 4Ps supply side Cheap Mexico All Inclusive Vacation 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 Flight London Prague Product Cheap Flight London Prague innovation drives the process and marketing research is conducted primarily to ensure Cheap Flight London Prague that a profitable Cheap Flight London Prague market segment(s) exists for the innovation. The rationale is that customers may Cheap Flight London Prague 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 aggressively over-pursue Cheap Flight London Prague product innovation and try to overcapitalize Cheap Flight London Prague on Cheap Flight London Prague 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 Cheap Flight London Prague claimed that Cheap Flight London Prague if Thomas Cheap Accomodations In Malta Edison Cheap Flight London Prague depended on marketing research he would have produced larger candles rather than inventing Cheap Flight London Prague light bulbs. Many firms, such as Cheap Flight London Prague research and development focused companies, successfully focus on product innovation Cheap Flight London Prague (Such as Nintendo who Preparing Cheap Costumes For Halloween constantly change the Cheap Flight London Prague way Video games 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. |
