A market-focused, or customer-focused, organization first determines 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 Cheap Poster Frames or service because they have a need, or because it provides a perceived benefit.
Two major factors of marketing are Cheap Poster Frames the recruitment of new customers (acquisition) and the retention and expansion of relationships with existing customers (base management). Once Cheap Poster Frames a marketer has converted the prospective buyer, base management marketing takes over. The process for base management shifts the marketer to building a Cheap Poster Frames relationship, nurturing the links, enhancing the benefits that sold the buyer in the first place, and improving Cheap Poster Frames the product/service continuously to protect the Cheap Poster Frames business Cheap Poster Frames from competitive encroachments.
For a marketing plan to be successful, the mix Cheap Poster Frames 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 buy something they don't want Cheap Desktop Computers is extremely expensive and seldom successful. Marketers depend on insights from marketing research, both formal and Cheap Poster Frames informal, to determine what consumers want and what they are willing to pay for. Marketers hope that this process will Cheap Poster Frames give them a sustainable competitive advantage. Marketing management is the practical application of this process. The offer is also an Cheap Poster Frames important addition to the 4P's Cheap Poster Frames 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 Marketing Cheap Poster Frames Officer position, reporting to the Chief Executive Officer.
The American Marketing Association (AMA) states, �Marketing is the activity, set of institutions, Cheap Poster Frames and processes Cheap Poster Frames for creating, communicating, delivering, Cheap Poster Frames and exchanging offerings that have value for customers, clients, partners, and society at large.".
Marketing methods are informed by many Cheap Poster Frames of the Cheap Poster Frames social sciences, particularly psychology, sociology, and economics. Cheap Poster Frames Anthropology is also Cheap Poster Frames a small, but growing influence. Market research underpins these activities. Through advertising, it is also related to many Cheap Poster Frames of Cheap Poster Frames the creative Cheap Poster Frames arts. Marketing is a wide Cheap Poster Frames and heavily interconnected subject with extensive Cheap Poster Frames publications. It is also an area of activity Cheap Poster Frames infamous for re-inventing itself Cheap Poster Frames and its vocabulary according to the times and the culture.
Many companies today have Cheap Watches a customer focus (or customer orientation). This implies that the company focuses its activities and products on consumer demands. Generally there are three ways of doing this: the customer-driven approach, the sense of identifying market changes Cheap Poster Frames and the product innovation approach.
|
In the consumer-driven approach, consumer wants are the drivers of Cheap Poster Frames all strategic marketing decisions. No Cheap Poster Frames strategy Cheap Poster Frames is Cheap Nintendo Ds 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 Cheap Poster Frames of potential consumers. The starting point is always the consumer. The rationale Cheap Poster Frames for this approach is that there is no point spending R&D funds Cheap Poster Frames developing products that people will not buy. History attests Cheap Poster Frames to many products that were commercial Cheap Poster Frames failures in spite of being technological breakthroughs.
A formal approach to Cheap Poster Frames this customer-focused marketing is known as SIVA[3] (Solution, Information, Value, Access). This Cheap Poster Frames system is basically the Cheap Poster Frames four Ps renamed and Cheap Poster Frames reworded to provide a customer focus.
The SIVA Model provides a demand/customer Cheap Poster Frames centric version alternative to the well-known 4Ps supply side model (product, price, place, promotion) of Cheap Poster Frames marketing management.
In a product innovation Cheap Poster Frames approach, the company pursues product innovation, then tries to develop Cheap Poster Frames a market for the product. Product innovation drives Cheap Hotels In Nyc the process and marketing research is conducted primarily to ensure that a profitable market segment(s) exists for the Cheap Poster Frames innovation. The rationale is that customers may not know Cheap Poster Frames what options will be available Cheap Poster Frames to them in the future so we should not expect them to tell us what they will Cheap Poster Frames buy in Cheap Poster Frames the future. However, marketers can aggressively 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. It is claimed that if Thomas Edison depended on marketing Cheap Poster Frames research he would have produced larger candles rather than inventing light Cheap Poster Frames bulbs. Cheap Poster Frames Many firms, such as research and Cheap Subwoofers development focused companies, Cheap Poster Frames successfully focus on product innovation (Such as Nintendo who constantly change the way Video games are played). Many purists doubt Cheap Poster Frames whether this is really Cheap Poster Frames a form of marketing orientation at Cheap Poster Frames all, Cheap Poster Frames because Cheap Poster Frames of the ex post status of consumer research. Some even question Cheap Charms whether it Cheap Poster Frames is marketing. |
