A market-focused, or customer-focused, organization first determines what its potential customers desire, and then builds the product or service. Marketing theory and Mardi Gras Cheap Beads practice is justified in the belief that Mardi Gras Cheap Beads customers use a product or service Mardi Gras Cheap Beads because they Mardi Gras Cheap Beads have a need, or Mardi Gras Cheap Beads because it provides a perceived benefit.
Two major factors of marketing are the recruitment of new customers (acquisition) and the retention and expansion of relationships with existing customers (base management). Once Mardi Gras Cheap Beads 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, Mardi Gras Cheap Beads enhancing the benefits that sold the buyer in the first place, and improving the product/service continuously to protect the business from competitive encroachments.
For Mardi Gras Cheap Beads a marketing plan Mardi Gras Cheap Beads to be successful, the mix of the four "Ps" must reflect the wants and desires of the consumers or Shoppers in the target market. Trying to convince a market segment to buy something they don't want is extremely expensive and seldom successful. Marketers depend on insights from marketing research, both formal and informal, to Mardi Gras Cheap Beads determine what consumers want and Mardi Gras Cheap Beads what they Mardi Gras Cheap Beads are willing to pay for. Mardi Gras Cheap Beads Marketers hope that this process will give them Mardi Gras Cheap Beads a sustainable competitive advantage. Marketing management is the practical application of this process. The offer is also an important addition Mardi Gras Cheap Beads to the 4P's Mardi Gras Cheap Beads theory.
Within most organizations, the activities encompassed by the marketing function are led by a Vice President or Director of Marketing. A growing number of organizations, especially large Mardi Gras Cheap Beads US companies, have a Chief Marketing Officer position, Mardi Gras Cheap Beads reporting Mardi Gras Cheap Beads to the Chief Executive Officer.
The American Marketing Association (AMA) states, �Marketing is the activity, set of institutions, and processes for creating, communicating, delivering, Mardi Gras Cheap Beads and exchanging offerings that have value for customers, clients, partners, and society at Mardi Gras Cheap Beads large.".
Marketing methods are informed by many of the social sciences, particularly psychology, sociology, and economics. Anthropology is Mardi Gras Cheap Beads also a small, but growing influence. Market Mardi Gras Cheap Beads research underpins these activities. Mardi Gras Cheap Beads Through advertising, Mardi Gras Cheap Beads it Mardi Gras Cheap Beads is also related to many of Mardi Gras Cheap Beads the creative arts. Marketing is Mardi Gras Cheap Beads a wide and heavily interconnected subject with extensive publications. It is Mardi Gras Cheap Beads also an area of activity infamous for Mardi Gras Cheap Beads re-inventing itself and its vocabulary according to the times and the culture.
Many companies Mardi Gras Cheap Beads today Mardi Gras Cheap Beads have a customer focus (or Mardi Gras Cheap Beads customer orientation). This implies that the company focuses its Mardi Gras Cheap Beads activities and products Mardi Gras Cheap Beads 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.
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In the consumer-driven approach, consumer wants are the drivers of all strategic marketing decisions. No strategy is Mardi Gras Cheap Beads pursued until it passes the test of consumer research. Every aspect of a market Mardi Gras Cheap Beads offering, including the nature Mardi Gras Cheap Beads of the product itself, is driven by the needs of potential Mardi Gras Cheap Beads consumers. The starting point is always the consumer. The rationale for this Mardi Gras Cheap Beads approach is that there is no point spending R&D funds developing products Mardi Gras Cheap Beads that people will not buy. History attests to many products that were commercial failures in spite of being technological breakthroughs.
A formal approach to Cheap Rental Cars Gold Coast this customer-focused marketing is known as SIVA[3] (Solution, Information, Value, Access). This system is basically the four Ps renamed and Mardi Gras Cheap Beads reworded to provide a customer focus.
The Mardi Gras Cheap Beads 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, Mardi Gras Cheap Beads the company pursues product innovation, then tries to develop a market for the product. Product innovation drives Mardi Gras Cheap Beads the process and marketing research 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 will be available to them in the future so we should not expect Mardi Gras Cheap Beads them to tell us what they will Mardi Gras Cheap Beads buy in Mardi Gras Cheap Beads the future. However, marketers can Mardi Gras Cheap Beads aggressively over-pursue product innovation and try to overcapitalize on a niche. When pursuing a product innovation approach, Mardi Gras Cheap Beads marketers must Mardi Gras Cheap Beads ensure that they have a varied Mardi Gras Cheap Beads and multi-tiered approach to product innovation. It Mardi Gras Cheap Beads is claimed that if Thomas Edison depended on marketing research he would have produced larger candles rather than inventing light bulbs. Many firms, Mardi Gras Cheap Beads such as research and development focused Mardi Gras Cheap Beads companies, successfully focus on product innovation (Such as Nintendo who Mardi Gras Cheap Beads constantly change the Mardi Gras Cheap Beads way Video games are played). Many purists doubt whether this is really a form of marketing orientation at all, because of Mardi Gras Cheap Beads the ex post status of Mardi Gras Cheap Beads consumer research. Some even question whether it is marketing. |
