A market-focused, or customer-focused, organization first determines what its Cheap High Internet Service Speed potential Cheap High Internet Service Speed customers desire, and then builds the product or service. Marketing theory and practice is justified in the belief that customers use a product or service Cheap High Internet Service Speed because they have a need, or because it provides Cheap High Internet Service Speed a perceived benefit.
Two major factors of marketing are the recruitment of new customers (acquisition) and the retention and expansion of relationships Cheap High Internet Service Speed with existing customers (base management). Once Cheap High Internet Service Speed a marketer has converted the prospective buyer, base Cheap High Internet Service Speed management marketing takes Cheap Airfare Vegas over. The process for base management shifts the marketer to building a relationship, nurturing the links, enhancing the benefits that sold the buyer in Cheap High Internet Service Speed the first place, and improving the product/service continuously to protect the Cheap High Internet Service Speed business from competitive encroachments.
For a marketing plan to be successful, the mix of the four "Ps" Cheap High Internet Service Speed 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 Cheap High Internet Service Speed on insights from marketing research, both formal and informal, to determine what consumers want and what they are willing to pay for. Marketers hope that this process will give them a sustainable Cheap High Internet Service Speed competitive advantage. Marketing management Cheap High Internet Service Speed is the practical application of this process. The offer is also an important addition to the 4P's 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 Cheap High Internet Service Speed large US companies, have a Chief Marketing Officer position, Cheap High Internet Service Speed reporting to the Chief Executive Cheap High Internet Service Speed Officer.
The American Marketing Association (AMA) Cheap High Internet Service Speed states, �Marketing is the activity, set of institutions, and processes for creating, communicating, delivering, and Cheap High Internet Service Speed exchanging offerings that have Cheap High Internet Service Speed value for Cheap Ring Tones customers, clients, Cheap High Internet Service Speed partners, and society Cheap High Internet Service Speed at large.".
Marketing methods are informed by many of the social sciences, particularly psychology, Cheap High Internet Service Speed sociology, and economics. Anthropology is also a small, but growing influence. Market research underpins these activities. Through advertising, it is also Cheap High Internet Service Speed related to Cheap High Internet Service Speed many of the creative arts. Marketing is a Cheap High Internet Service Speed wide and heavily interconnected subject with extensive publications. It is also an area of Cheap High Internet Service Speed activity infamous Cheap High Internet Service Speed for re-inventing itself and its vocabulary according to the times Cheap High Internet Service Speed and the culture.
Many companies today have a customer focus (or customer Cheap High Internet Service Speed orientation). This implies that Cheap High Internet Service Speed the company focuses its activities and products on consumer demands. Generally there are three ways of doing this: the customer-driven approach, the Cheap High Internet Service Speed sense of identifying Cheap High Internet Service Speed market changes and the Cheap High Internet Service Speed product innovation approach.
In the consumer-driven Cheap Clocks approach, Cheap Travel In Canada consumer wants are the drivers of all strategic marketing decisions. No strategy is Cheap High Internet Service Speed pursued until it passes the test of consumer research. Every aspect of a market offering, including the nature of the product itself, is driven by the needs of Cheap High Internet Service Speed 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 that people will not buy. Cheap High Internet Service Speed History attests to many products that Cheap High Internet Service Speed were commercial failures in spite of being technological breakthroughs.
A Cheap High Internet Service Speed formal approach to this customer-focused Cheap High Internet Service Speed marketing is known as SIVA[3] (Solution, Information, Value, Access). This system is basically the four Cheap High Internet Service Speed Ps renamed and reworded to provide a customer focus.
The SIVA Model provides a demand/customer centric Cheap High Internet Service Speed version alternative to the well-known 4Ps supply side model Cheap High Internet Service Speed (product, price, place, promotion) of marketing management.
In a product innovation approach, the company Cheap High Internet Service Speed pursues product innovation, then tries to develop a market for the product. Product innovation drives the process Cheap High Internet Service Speed and marketing research is conducted primarily to ensure that a profitable market segment(s) Cheap High Internet Service Speed 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 Cheap High Internet Service Speed expect them to tell us what they will buy in the future. Cheap High Internet Service Speed However, marketers can Cheap High Internet Service Speed aggressively over-pursue product innovation Cheap High Internet Service Speed and try to overcapitalize on a Cheap High Internet Service Speed niche. When pursuing a Discount Ticket Cheap Tickets Travel Discount product innovation approach, marketers must Cheap High Internet Service Speed ensure that they First Class Lowest Cheap Airfares have a varied and multi-tiered Cheap High Internet Service Speed approach to Cheap High Internet Service Speed product innovation. It is claimed that if Thomas Edison depended on marketing research he would have produced larger candles rather than inventing Cheap High Internet Service Speed light bulbs. Many firms, such as research and development focused companies, successfully Cheap High Internet Service Speed focus on product innovation Cheap High Internet Service Speed (Such as Nintendo who constantly change the way Video Cheap High Internet Service Speed games are played). Many purists Cheap High Internet Service Speed doubt whether this is really a form of marketing orientation at all, because of the ex post status Cheap High Internet Service Speed of consumer research. Some even question whether it is marketing. |
