A market-focused, Cheap Pc Desks 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 Cheap Pc Desks belief that customers use a product or service because they have a need, or because Cheap Pc Desks it provides a perceived benefit.
Two major factors of marketing are Cheap Pc Desks the recruitment of new customers (acquisition) and the retention and expansion of relationships with Cheap Pc Desks existing customers Cheap Pc Desks (base management). Once a marketer has converted the prospective buyer, base management marketing takes over. The process for base management Cheap Pc Desks shifts the marketer to building a Cheap Pc Desks relationship, nurturing the links, enhancing the benefits that sold the buyer Cheap Pc Desks in the first place, and improving the product/service continuously to protect the business from competitive encroachments.
For a marketing Cheap Pc Desks plan 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. Cheap Pc Desks Marketers Cheap Pc Desks depend on insights from marketing research, both formal and Cheap Pc Desks informal, to determine what consumers Cheap Pc Desks want and Cheap Pc Desks what they are willing to pay for. Cheap Hockey Skates Marketers hope that this process will give them a sustainable competitive advantage. Marketing management is the Cheap Pc Desks practical application of this process. The offer is also an important addition to the 4P's theory.
Within most Cheap Pc Desks organizations, the activities encompassed by the marketing function are led Cheap Pc Desks by a Cheap Pc Desks Vice President or Director of Marketing. A growing number of organizations, especially large US Cheap Pc Desks companies, have a Chief Marketing Officer position, reporting Cheap Pc Desks to the Cheap Pc Desks Chief Executive Officer.
The American Marketing Association (AMA) states, �Marketing is the activity, set of institutions, and processes Cheap Portable Gps Systems for creating, communicating, delivering, and Cheap Pc Desks exchanging offerings that have Cheap Pc Desks value for customers, clients, partners, and society at large.".
Marketing methods are informed by many of the Cheap Used College Textbooks social sciences, particularly psychology, sociology, and economics. Anthropology is also Cheap Pc Desks a small, but growing influence. Market research underpins these activities. Through advertising, it is also related to many of the creative arts. Marketing Cheap Pc Desks is a wide and heavily interconnected subject with extensive publications. It is also an Cheap Pc Desks 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 Cheap Pc Desks that the company focuses its activities and products Cheap Pc Desks on Cheap Pc Desks consumer demands. Generally there are three ways of doing this: the Cheap Pc Desks customer-driven approach, the sense of identifying market changes and the Cheap Pc Desks product Cheap Pc Desks innovation approach.
In the consumer-driven Cheap Pc Desks approach, consumer wants are the drivers of all strategic marketing decisions. No Cheap Pc Desks strategy is pursued until it passes Cheap Pc Desks the Cheap Pc Desks test of consumer research. Every aspect of a market Cheap Pc Desks offering, including Cheap Pc Desks the Cheap Pc Desks nature of the product itself, is driven by the needs Cheap Holidays In Spain of potential consumers. The starting point is always the consumer. The rationale for this approach is that there is no point Cheap Pc Desks spending R&D funds developing Cheap Pc Desks products that people will Cheap Pc Desks not buy. History attests to many products that were commercial failures in spite of being technological breakthroughs.
A formal approach to this customer-focused marketing is known Cheap Pc Desks as SIVA[3] (Solution, Information, Value, Cheap Pc Desks Access). This system is Cheap Pc Desks 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 Cheap Pc Desks 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. Cheap Pc Desks Product innovation drives the process and marketing Cheap Pc Desks research is conducted primarily Cheap Pc Desks 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 Cheap Pc Desks them in the future so we should not expect Cheap Pc Desks Cheap Travel Insurance With No Excess them to tell us what they will buy Cheap Pc Desks in the future. Cheap Pc Desks However, marketers can aggressively over-pursue product innovation and try to overcapitalize on a niche. When pursuing a product innovation approach, marketers must ensure Cheap Travel To Asia that they have a varied and multi-tiered approach to product innovation. It is claimed Cheap Pc Desks that if Thomas Cheap Pc Desks Edison depended on marketing research he would have produced 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 Cheap Pc Desks this is really a form of marketing orientation Cheap Pc Desks at all, Cheap Pc Desks Cheap Travel World because of the ex post status of consumer research. Some even question whether it is marketing. |
