A market-focused, Cheap Sports Travel Insurance or customer-focused, organization first determines what its potential customers desire, and Cheap Sports Travel Insurance then builds the product or service. Marketing theory and Cheap Sports Travel Insurance 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 major factors of marketing are the recruitment of new customers (acquisition) and the retention and expansion of relationships with existing customers (base management). Once a marketer has converted the prospective buyer, base management marketing takes Cheap Sports Travel Insurance over. The process for base management shifts the marketer to Cheap Sports Travel Insurance building a relationship, nurturing the links, enhancing the benefits that sold the buyer in the first place, and improving the Cheap Sports Travel Insurance product/service continuously to protect the business Cheap Sports Travel Insurance from competitive encroachments.
For a marketing plan to be Cheap Sports Travel Insurance successful, the mix of the four "Ps" must Cheap Sports Travel Insurance reflect the wants and desires of the consumers or Shoppers in the target market. Trying to Cheap Sports Travel Insurance convince a market segment Cheap Sports Travel Insurance to buy Cheap Sports Travel Insurance something Cheap Sports Travel Insurance they don't want is Cheap Sports Travel Insurance extremely expensive and seldom Cheap Sports Travel Insurance successful. Marketers depend on insights from marketing research, Cheap Sports Travel Insurance both formal and informal, to Cheap Sports Travel Insurance determine what consumers Cheap Sports Travel Insurance want and what they are willing to pay for. Marketers hope that this process will give them a sustainable competitive advantage. Cheap Sports Travel Insurance Marketing Cheap Sports Travel Insurance management is the practical application of this process. The offer is also an important addition to the Cheap Sports Travel Insurance 4P's theory.
Within most organizations, the activities encompassed Cheap Sports Travel Insurance by the marketing Cheap Sports Travel Insurance function are led by a Vice President or Cheap Sports Travel Insurance Director of Marketing. A growing number of organizations, Carpet Cheap Cleaning Order especially large US companies, have Cheap Sports Travel Insurance a Chief Marketing Officer position, reporting to the Chief Executive Officer.
The American Marketing Association (AMA) states, �Marketing is Cheap Sports Travel Insurance the activity, Cheap Sports Travel Insurance set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that Cheap Sports Travel Insurance have Cheap Sports Travel Insurance value for customers, clients, partners, and Cheap Sports Travel Insurance society at large.".
Marketing methods Cheap Sports Travel Insurance are Cheap Sports Travel Insurance 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 Cheap Sports Travel Insurance of the creative arts. Marketing Cheap Sports Travel Insurance is a wide Cheap Sports Travel Insurance and heavily interconnected subject with extensive publications. It is also Cheap Sports Travel Insurance 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 focus (or customer orientation). This implies that the company focuses its activities and products on consumer demands. Generally there are three Cheap Sports Travel Insurance ways of doing this: the customer-driven approach, the sense of identifying market changes and the product innovation approach.
In Cheap Sports Travel Insurance the consumer-driven approach, Cheap Sports Travel Insurance consumer wants are the drivers of all strategic marketing Cheap Sports Travel Insurance decisions. No strategy is pursued Cheap Sports Travel Insurance until Cheap Sports Travel Insurance it passes the test of consumer research. Every aspect of a market offering, including the Cheap Sports Travel Insurance nature of the 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 Cheap Sports Travel Insurance is no point spending R&D funds developing products that people will not buy. History attests to many products Cheap Sports Travel Insurance 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). This system is basically the four Ps renamed and reworded to provide a customer focus.
The SIVA Model provides a demand/customer centric version alternative to the well-known 4Ps supply side model (product, price, place, promotion) Cheap Sports Travel Insurance of marketing management.
In a product innovation approach, the company pursues product innovation, then tries to develop a market for the product. Product innovation drives the Cheap Sports Travel Insurance process and marketing research Cheap Sports Travel Insurance is conducted primarily to ensure that a profitable market segment(s) exists for the innovation. The rationale is Cheap Sports Travel Insurance that customers may Cheap Sports Travel Insurance not know Cheap Sports Travel Insurance what options Cheap Sports Travel Insurance will be available Cheap Sports Travel Insurance to them in the future so we should not expect them to tell us what Cheap Sports Travel Insurance 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 and multi-tiered approach to Cheap Sports Travel Insurance 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 firms, such as research and development focused Cheap Sports Travel Insurance companies, Cheap Sports Travel Insurance successfully focus on product innovation Cheap Sports Travel Insurance (Such as Nintendo who constantly change the way Video games are played). Many Cheap Sports Travel Insurance 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. |
