A market-focused, or customer-focused, organization first determines what its potential customers desire, and then builds the Cheap Youth Atv S product or service. Marketing theory and practice is justified in the belief that customers use Cheap Youth Atv S a product or service because they have a need, or because it provides a perceived benefit.
Two Cheap Youth Atv S major factors Cheap Youth Atv S of marketing are the recruitment of new customers (acquisition) and the retention Cheap Youth Atv S and expansion of relationships with existing Cheap Youth Atv S 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 links, enhancing the benefits that sold Cheap Youth Atv S the buyer in the first place, and improving the product/service continuously to protect the business from competitive encroachments.
For a Cheap Youth Atv S marketing plan to be successful, the mix of the four "Ps" must reflect the Cheap Youth Atv S wants and desires of Cheap Youth Atv S the consumers or Shoppers in the Cheap Youth Atv S target market. Trying to convince Cheap Youth Atv S a market segment to buy something they don't want is Cheap Youth Atv S extremely expensive and seldom successful. Marketers depend on insights from marketing Cheap Youth Atv S research, both formal and informal, Cheap Youth Atv S to determine what consumers Cheap Flower Pots want and what they Cheap Youth Atv S are willing to pay for. Marketers hope Cheap Youth Atv S that this process will give them a Cheap Youth Atv S sustainable competitive advantage. Marketing management is the practical application of this process. The offer is also an important addition to the 4P's theory.
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Within most organizations, the activities encompassed by the marketing function are led by a Vice Cheap Youth Atv S President or Director of Marketing. A growing number of organizations, especially large US companies, have a Chief Cheap Youth Atv S Marketing Officer position, reporting Cheap Youth Atv S to the Cheap Youth Atv S Chief Executive Officer.
The American Cheap Youth Atv S Marketing Association (AMA) states, �Marketing is the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that Cheap Youth Atv S have value for customers, clients, partners, and society at large.".
Marketing methods are Cheap Insurance Policy Travel Uk informed by many of the social sciences, particularly Cheap Youth Atv S psychology, sociology, Cheap Youth Atv S 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 with extensive publications. It is also an area of activity infamous for Cheap Youth Atv S re-inventing itself and its vocabulary according Cheap Youth Atv S to the times and the culture.
Many companies today have a customer focus (or customer orientation). This implies that the company focuses its Cheap Youth Atv S activities and products Cheap Youth Atv S on consumer demands. Generally there Cheap Youth Atv S are three ways of doing this: the customer-driven approach, the sense of Cheap Youth Atv S identifying market changes and the product innovation approach.
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In Cheap Youth Atv S the consumer-driven approach, Cheap Youth Atv S consumer wants are Fox Car Rental Auto Cheap Insurance the drivers of all strategic marketing decisions. No Cheap Insurance Ireland Travel strategy is Cheap Youth Atv S pursued until it passes the test of consumer research. Every aspect of a Cheap Youth Atv S market offering, including the nature of the Cheap Youth Atv S 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 Cheap Youth Atv S that people will not buy. History attests to many products that were commercial failures Cheap Youth Atv S in Cheap Youth Atv S spite Cheap Youth Atv S of being technological breakthroughs.
A formal approach to this customer-focused marketing is known as SIVA[3] (Solution, Information, Value, Access). This system is basically the Cheap Youth Atv S four Ps renamed and reworded to provide a customer Cheap Youth Atv S focus.
The Cheap Youth Atv S SIVA Model provides Cheap Youth Atv S a demand/customer centric version alternative to the well-known 4Ps supply side model (product, price, place, promotion) of Cheap Youth Atv S marketing management.
In a product Cheap Youth Atv S innovation approach, the company pursues product innovation, then tries to develop a market for Cheap Youth Atv S the Cheap Youth Atv S product. Product innovation drives the Cheap Youth Atv S process and marketing research Cheap Air Fare To Las Vegas is conducted primarily to ensure that a profitable market segment(s) exists for the innovation. The rationale is that customers may not know what options Cheap Youth Atv S 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 product innovation and try to overcapitalize on a niche. When pursuing a product innovation approach, marketers must ensure that they have a varied Cheap Youth Atv S and Cheap Youth Atv S multi-tiered approach to product innovation. It Cheap Youth Atv S is claimed Cheap Youth Atv S that if Thomas Edison depended on marketing research he would have produced Cheap Youth Atv S larger candles rather than inventing light bulbs. Many 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 of marketing orientation at all, Cheap Youth Atv S because of the ex post status of consumer Cheap Youth Atv S research. Some even question whether it is Cheap Youth Atv S marketing. |
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