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