A market-focused, or customer-focused, organization 13x16 Picture Frame Cheap first determines what its potential customers desire, and then builds the product or service. Marketing theory and 13x16 Picture Frame Cheap practice is 13x16 Picture Frame Cheap justified in the 13x16 Picture Frame Cheap 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 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 prospective buyer, base management marketing takes over. The process for base management shifts the marketer to building a relationship, nurturing the links, enhancing the benefits that sold the buyer in the 13x16 Picture Frame Cheap 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 market. Trying to convince a market segment to 13x16 Picture Frame Cheap 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 they are willing to pay for. Marketers hope 13x16 Picture Frame Cheap that this process will give them 13x16 Picture Frame Cheap a sustainable competitive 13x16 Picture Frame Cheap advantage. Marketing management is 13x16 Picture Frame Cheap the practical application of this process. The Cheap Flights France Portugal offer 13x16 Picture Frame Cheap is also an important addition to 13x16 Picture Frame Cheap 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 growing number of organizations, especially large US companies, have a Chief 13x16 Picture Frame Cheap Marketing Officer position, reporting to the Chief Executive Officer.
The 13x16 Picture Frame Cheap American Marketing Association (AMA) states, �Marketing is the activity, set of institutions, and processes for 13x16 Picture Frame Cheap creating, communicating, delivering, and 13x16 Picture Frame Cheap exchanging offerings 13x16 Picture Frame Cheap that 13x16 Picture Frame Cheap have value for 13x16 Picture Frame Cheap customers, 13x16 Picture Frame Cheap clients, partners, and society Cheap Flights To Germany From England at large.".
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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 underpins these activities. Through advertising, it is 13x16 Picture Frame Cheap also related to many of the creative arts. Marketing is a wide and heavily interconnected subject 13x16 Picture Frame Cheap with extensive publications. It is also an area of activity infamous for re-inventing itself and its vocabulary according to the times and the culture.
Many 13x16 Picture Frame Cheap companies today have a 13x16 Picture Frame Cheap customer focus (or 13x16 Picture Frame Cheap customer orientation). This implies that the company focuses its 13x16 Picture Frame Cheap activities and products on consumer demands. Generally 13x16 Picture Frame Cheap there are three ways of 13x16 Picture Frame Cheap doing this: the customer-driven approach, 13x16 Picture Frame Cheap the sense of identifying market changes and the product innovation 13x16 Picture Frame Cheap approach.
In the 13x16 Picture Frame Cheap consumer-driven approach, consumer 13x16 Picture Frame Cheap 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 the nature of the product itself, is driven by the needs of 13x16 Picture Frame Cheap potential consumers. The starting 13x16 Picture Frame Cheap point is always the consumer. The rationale for this approach is that there is no point spending R&D funds developing products 13x16 Picture Frame Cheap that people will not 13x16 Picture Frame Cheap 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 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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The SIVA 13x16 Picture Frame Cheap Model provides a 13x16 Picture Frame Cheap demand/customer centric version alternative to the well-known 4Ps supply 13x16 Picture Frame Cheap 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 13x16 Picture Frame Cheap the product. Product innovation drives 13x16 Picture Frame Cheap the process 13x16 Picture Frame Cheap and marketing research is conducted primarily to ensure that a profitable market segment(s) exists for the innovation. The 13x16 Picture Frame Cheap rationale is 13x16 Picture Frame Cheap that customers may not know what options will be available to them in the future so we 13x16 Picture Frame Cheap should not expect them to tell us what 13x16 Picture Frame Cheap they will buy in the future. However, marketers can aggressively 13x16 Picture Frame Cheap over-pursue product innovation and 13x16 Picture Frame Cheap try 13x16 Picture Frame Cheap to 13x16 Picture Frame Cheap overcapitalize on 13x16 Picture Frame Cheap a 13x16 Picture Frame Cheap niche. When pursuing a product innovation approach, marketers must ensure that they have a varied and multi-tiered approach to 13x16 Picture Frame Cheap product innovation. It 13x16 Picture Frame Cheap is claimed that if Thomas Edison 13x16 Picture Frame Cheap depended on marketing 13x16 Picture Frame Cheap 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 13x16 Picture Frame Cheap constantly change the 13x16 Picture Frame Cheap 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 13x16 Picture Frame Cheap it is marketing. |
