A market-focused, or customer-focused, organization Cheap Flights Hong Kong London first determines Cheap Flights Hong Kong London what its potential customers desire, and Cheap Flights Hong Kong London then builds the product or service. Marketing theory and practice is Cheap Flights Hong Kong London justified in the belief that customers use a Cheap Flights Hong Kong London product or service because Cheap Flights Hong Kong London they have a need, or because Cheap Flights Hong Kong London it provides a Cheap Flights Hong Kong London perceived benefit.
Two major factors of marketing are the recruitment of new customers Cheap Flights Hong Kong London (acquisition) and the retention and expansion of relationships with existing customers (base management). Once a marketer has converted the prospective buyer, base Cheap Flights Hong Kong London management marketing takes over. The process for base management shifts Cheap Flights Hong Kong London the marketer to building a relationship, nurturing the links, enhancing the benefits that sold the buyer in the first place, Cheap Car Hire New Zealand 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 Cheap Flights Hong Kong London wants and Cheap Flights Hong Kong London desires of the consumers or Shoppers in Cheap Flights Hong Kong London 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 marketing research, both formal and informal, to determine what consumers want and what Cheap Flights Hong Kong London they are willing to pay for. Marketers hope that Cheap Flights Hong Kong London this process will give them Cheap Flights Hong Kong London a sustainable competitive Car Cheap Insurance Motor Quote advantage. Marketing management is Cheap Flights Hong Kong London the practical application of this process. The offer is also an important addition to the 4P's theory.
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Within most organizations, the activities Cheap Flights Hong Kong London encompassed by the marketing function are led by a Vice President or Director of Marketing. A growing number Cheap Flights Hong Kong London of organizations, especially large US companies, have a Chief Marketing Officer position, reporting to the Chief Executive Cheap Flights Hong Kong London Officer.
The Cheap Flights Hong Kong London American Marketing Association (AMA) states, �Marketing is Cheap Cabins In Pigeon Forge the activity, set of institutions, and processes for Cheap Flights Hong Kong London creating, communicating, delivering, Cheap Car Insurance Quotes Uk and exchanging offerings that have value for customers, clients, partners, and society at large.".
Marketing methods are informed by many of the social Cheap Flights Hong Kong London sciences, particularly psychology, sociology, and economics. Anthropology is also a small, Cheap Flights Hong Kong London but growing influence. Market research underpins these activities. Through advertising, it is also related to many of the creative arts. Marketing is Cheap Flights Hong Kong London a wide and heavily interconnected Cheap Flights Hong Kong London subject with extensive publications. It is also an area of activity infamous Cheap Flights Hong Kong London for re-inventing itself and its vocabulary according to the times and the culture.
Many companies today have a customer focus (or Cheap Flights Hong Kong London customer orientation). This implies that the company focuses its activities and products on consumer demands. Cheap Flights Hong Kong London Generally there are three ways of doing this: the customer-driven approach, the sense of identifying market changes and the product innovation approach.
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In the consumer-driven Cheap Flights Hong Kong London approach, consumer wants are the drivers of all strategic marketing decisions. No Cheap Flights Hong Kong London strategy is pursued until it Cheap Flights Hong Kong London 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 potential consumers. The starting point Cheap Flights Hong Kong London is always the consumer. The rationale for this approach is that there is no Cheap Flights Hong Kong London point spending R&D Cheap Flights Hong Kong London funds developing products that people will not buy. History attests to many products Cheap Flights Hong Kong London that were commercial failures in spite of being technological breakthroughs.
A formal approach to this customer-focused marketing is known as SIVA[3] (Solution, Information, Value, Access). This system Cheap Flights Hong Kong London is basically the four Ps renamed and reworded Cheap Flights Hong Kong London to provide a customer focus.
The SIVA Model provides a demand/customer centric version alternative to the well-known 4Ps Cheap Flights Hong Kong London supply side model (product, price, place, promotion) of Cheap Flights Hong Kong London marketing Cheap Chicago Flights management.
In a product Cheap Nike Sneakers innovation approach, the company pursues product innovation, then tries to develop Cheap Flights Hong Kong London a market for the product. Product Cheap Flights Hong Kong London innovation drives the process and marketing research is conducted primarily to ensure that a profitable Cheap Flights Hong Kong London market segment(s) exists for the innovation. The Cheap Flights From India To Usa rationale is that customers may not Cheap Flights Hong Kong London know Cheap Flights Hong Kong London what options Cheap Flights Hong Kong London will be available to Cheap Flights Hong Kong London them in the future so we should not Cheap Flights Hong Kong London expect them to tell us what Cheap Flights Hong Kong London they will buy in the future. However, marketers can aggressively over-pursue product innovation and try to overcapitalize on a niche. When pursuing Cheap Flights Hong Kong London a product innovation approach, Cheap Flights Hong Kong London marketers must ensure Cheap Flights Hong Kong London that they have a varied and Cheap Flights Hong Kong London multi-tiered approach to product innovation. It is claimed that if Thomas Edison Cheap Flights Hong Kong London depended on Cheap Flights Hong Kong London marketing research he would have produced larger candles rather Cheap Flights Hong Kong London Cheap Groceries 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 Cheap Flights Hong Kong London research. Some even Cheap Flights Hong Kong London question whether it is marketing. |
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