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 in the belief Used Cricket Phone Cheap 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 Used Cricket Phone Cheap customers (acquisition) and Used Cricket Phone Cheap the retention Used Cricket Phone Cheap and expansion of relationships with existing customers (base management). Once a marketer has Used Cricket Phone Cheap converted the Used Cricket Phone Cheap 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 the buyer in the first place, and improving the product/service continuously to protect the business from competitive encroachments.
For a Used Cricket Phone Cheap marketing plan to be successful, Used Cricket Phone Cheap the mix of Used Cricket Phone Cheap the four "Ps" must reflect the wants and desires of the consumers or Shoppers in the Used Cricket Phone Cheap target market. Trying to convince a market segment to buy something Used Cricket Phone Cheap they don't want is extremely expensive and seldom successful. Marketers depend on insights from marketing research, both formal and informal, to determine what consumers want and what they are willing to pay Used Cricket Phone Cheap for. Used Cricket Phone Cheap Marketers hope that this process will give them a sustainable competitive advantage. Marketing management is the practical application of this process. Used Cricket Phone Cheap The Used Cricket Phone Cheap offer is also Used Cricket Phone Cheap an important addition to the 4P's theory.
Within most organizations, the activities encompassed by the marketing function are led Used Cricket Phone Cheap by a Vice President Used Cricket Phone Cheap or Director of Marketing. A growing number of organizations, especially large Used Cricket Phone Cheap US companies, have a Chief Used Cricket Phone Cheap Marketing Officer position, reporting Used Cricket Phone Cheap to the Chief Used Cricket Phone Cheap 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 Used Cricket Phone Cheap the social Used Cricket Phone Cheap sciences, particularly Used Cricket Phone Cheap psychology, sociology, and economics. Anthropology is also a small, but growing influence. Used Cricket Phone Cheap Market research underpins these activities. Through advertising, Used Cricket Phone Cheap it is also related Used Cricket Phone Cheap to Used Cricket Phone Cheap many of the creative arts. Marketing is a wide and heavily interconnected subject with extensive Used Cricket Phone Cheap publications. It is also an area of Used Cricket Phone Cheap activity infamous for re-inventing itself and its vocabulary Used Cricket Phone Cheap according to Used Cricket Phone Cheap the times and the culture.
Many companies today Used Cricket Phone Cheap have a customer focus (or customer orientation). This implies that the company focuses its activities and products on consumer demands. Used Cricket Phone Cheap Generally there are three ways of doing this: the customer-driven approach, the sense of identifying market changes Used Cricket Phone Cheap and the product innovation approach.
In the consumer-driven Cheap Accredited Online Degrees approach, consumer wants Used Cricket Phone Cheap are the drivers of all strategic marketing decisions. No strategy is pursued until it passes the test Used Cricket Phone Cheap of consumer research. Every aspect Used Cricket Phone Cheap of a market offering, including the nature of Used Cricket Phone Cheap the product itself, is driven by the Used Cricket Phone Cheap needs of potential consumers. The starting point is always Used Cricket Phone Cheap the consumer. The rationale for this approach is that there is no point spending R&D funds developing products that people will not buy. History attests to many products that were Used Cricket Phone Cheap commercial Used Cricket Phone Cheap failures in Used Cricket Phone Cheap 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 basically the four Ps Used Cricket Phone Cheap renamed and Used Cricket Phone Cheap reworded to provide Used Cricket Phone Cheap 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) 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 process and Used Cricket Phone Cheap marketing research is conducted primarily to ensure that a profitable market segment(s) Used Cricket Phone Cheap exists for the innovation. The rationale is that customers may not Used Cricket Phone Cheap 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 product Used Cricket Phone Cheap innovation and Used Cricket Phone Cheap try to overcapitalize on a niche. When pursuing a product Used Cricket Phone Cheap innovation approach, marketers must ensure that they have a varied and multi-tiered approach to product innovation. It is claimed that if Thomas Edison depended on marketing Used Cricket Phone Cheap research he Used Cricket Phone Cheap would have produced Used Cricket Phone Cheap 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, because of the Used Cricket Phone Cheap ex post Used Cricket Phone Cheap status of consumer research. Some even question whether it is marketing. |
