A market-focused, or customer-focused, organization first determines what its potential customers desire, and then builds the product or service. Marketing theory and Cheap Granite 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 Cheap Granite are Cheap Granite 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 over. The process Cheap Granite for base Cheap Granite management shifts the marketer to building a relationship, nurturing the links, enhancing the benefits that sold the buyer Cheap Granite in the first place, and improving the product/service Cheap Granite continuously to protect the business Cheap Granite from competitive Cheap Granite encroachments.
For a Cheap Granite marketing plan to be successful, Cheap Granite the mix Cheap Granite of the four "Ps" Cheap Granite must reflect the Cheap Granite wants and desires of the Cheap Granite consumers or Shoppers Cheap Granite 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 on insights from Cheap Granite marketing research, both formal and Cheap Granite informal, to determine what consumers want and what they Cheap Granite are willing to pay for. Marketers hope that this process will give them a sustainable competitive advantage. Cheap Granite Marketing management is the practical Cheap Granite application Cheap Granite 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 Cheap Granite growing number of organizations, especially large Cheap Granite US companies, have a Chief Marketing Officer position, reporting to the Chief 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 Cheap Granite that have value for customers, clients, partners, and society at large.".
Marketing methods are informed Cheap Granite by many of the social sciences, particularly psychology, sociology, and economics. Anthropology is also a small, but Cheap Granite growing Cheap Granite influence. Market research underpins these activities. Through advertising, it is also related to many of Cheap Granite the creative arts. Marketing is a Cheap Granite wide and heavily interconnected subject with extensive publications. It is also an area of activity infamous Cheap Granite for re-inventing itself and its vocabulary according to the times Cheap Granite and the culture.
Many companies today have a customer focus Cheap Granite (or customer orientation). This implies that the company focuses Cheap Granite its activities and products on Cheap Granite consumer Cheap Granite demands. Generally there are Cheap Granite three ways Cheap Granite of Cheap Granite doing this: the customer-driven approach, the sense of identifying market changes and the product innovation approach.
In the consumer-driven approach, consumer wants are the drivers of all strategic marketing decisions. Cheap Granite No strategy is pursued until it passes the Cheap Granite test of consumer research. Every aspect of a market offering, including the nature Cheap Granite of the product Cheap Granite itself, is driven by the needs of 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 Cheap Granite will not buy. History attests to many Cheap Granite products Cheap Granite that were commercial failures Cheap Granite in spite of being technological breakthroughs.
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A formal approach to this customer-focused marketing is known as SIVA[3] (Solution, Information, Cheap Granite Value, Access). This system is basically the four Ps renamed and reworded to provide a customer focus.
The SIVA Model provides a demand/customer Cheap Granite centric version alternative to the well-known 4Ps Cheap Granite supply side model (product, price, place, promotion) Cheap Granite of marketing Cheap Granite management.
In a product innovation approach, the company pursues product innovation, then tries Cheap Granite to develop a market for Cheap Granite 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 that customers may not know what options will be available to them in Cheap Granite the future so we should not expect them to tell us what they will buy in the future. However, marketers can aggressively Cheap Granite 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 product innovation. Cheap Granite It is claimed that if Thomas Edison Cheap Granite depended on Cheap Granite 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 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. |
