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