A market-focused, or customer-focused, organization first determines Brand New Cars Cheap what its potential 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 because they have a need, or because Brand New Cars Cheap it provides a perceived Brand New Cars Cheap benefit.
Two major factors of marketing are the recruitment Brand New Cars Cheap of Brand New Cars Cheap new customers (acquisition) and the retention and expansion of relationships with existing customers (base management). Once a marketer has Brand New Cars Cheap converted the prospective Brand New Cars Cheap buyer, base management marketing takes over. Brand New Cars Cheap The process for base management shifts the marketer to building a relationship, Brand New Cars Cheap nurturing the links, enhancing the Brand New Cars Cheap benefits that sold the buyer in 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 Brand New Cars Cheap the consumers or Brand New Cars Cheap 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 on insights from marketing research, both formal and informal, to determine Brand New Cars Cheap what Brand New Cars Cheap consumers want and what they are willing to pay for. Brand New Cars Cheap Marketers hope that this process will give them a sustainable competitive advantage. Brand New Cars Cheap Marketing management is the practical application of this process. The offer is also Brand New Cars Cheap an important addition to the 4P's theory.
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Marketing methods are informed by many of the social sciences, particularly psychology, sociology, and economics. Anthropology is also a small, but growing influence. Market research Brand New Cars Cheap underpins these activities. Through advertising, Brand New Cars Cheap it is also related to Brand New Cars Cheap many of the creative arts. Marketing is a wide and heavily interconnected subject with extensive publications. Brand New Cars Cheap It is also an area of activity infamous for re-inventing itself and its vocabulary according to the times and the culture.
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A Brand New Cars Cheap formal approach to this customer-focused marketing is known as SIVA[3] (Solution, Information, Value, Access). This system is basically the four Ps renamed and reworded to provide a customer focus.
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In a product innovation approach, the company Brand New Cars Cheap pursues product innovation, then tries to develop a market for the product. Product innovation drives the process and marketing research is Brand New Cars Cheap conducted primarily Brand New Cars Cheap to ensure that a profitable market segment(s) exists for the innovation. Brand New Cars Cheap The rationale is that customers may not know what options will be available to them in the future so we should not expect them Brand New Cars Cheap to tell us what they will buy in the future. However, marketers can Brand New Cars Cheap aggressively over-pursue product innovation and try to overcapitalize on a niche. When pursuing a product innovation approach, marketers must ensure that Brand New Cars Cheap they have a varied and multi-tiered approach to Brand New Cars Cheap product innovation. It is claimed that if Thomas Edison depended on marketing research he would have produced larger candles rather than inventing Brand New Cars Cheap light bulbs. Many firms, such as research and Brand New Cars Cheap development focused companies, successfully Brand New Cars Cheap focus on product innovation Aftershave Cheap (Such as Nintendo who constantly change the way Video games are played). Many purists doubt whether Brand New Cars Cheap this is really a form of marketing orientation at all, because of the ex post status of consumer research. Some Brand New Cars Cheap even question whether it is marketing. |
