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 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 Cheap Runescape Gold retention and expansion of relationships with existing customers (base management). Once Cheap Runescape Gold 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, Cheap Runescape Gold enhancing the benefits that Cheap Runescape Gold sold the Cheap Runescape Gold buyer in Cheap Runescape Gold the Cheap Runescape Gold first place, and improving the product/service continuously to protect the business from competitive encroachments.
For a marketing plan to be Cheap Last Minute Vacation successful, the mix of the four "Ps" must reflect the wants and desires of the consumers Cheap Runescape Gold or Shoppers in the Cheap Runescape Gold target market. Trying to convince a Cheap Flights In Europe market Cheap Wedding Supplies segment to buy something they don't want is extremely expensive Cheap Runescape Gold and seldom successful. Marketers depend on Cheap Runescape Gold insights from marketing research, both Cheap Runescape Gold formal and informal, Cheap Runescape Gold to determine what consumers want and Cheap Runescape Gold what they are willing to pay for. Marketers hope that this process will give them a sustainable competitive advantage. Marketing Cheap Runescape Gold management is the practical application of this process. The offer is also an important addition to the 4P's Cheap Runescape Gold theory.
Within most organizations, the activities encompassed by the marketing function are led by a Vice Cheap Runescape Gold President or Director of Marketing. A growing Cheap Runescape Gold number of organizations, especially large US companies, have a Chief Marketing Officer position, Cheap Cologne reporting to the Chief Executive Officer.
The American Marketing Association (AMA) states, �Marketing is the activity, set of institutions, and processes for creating, communicating, delivering, Airport Cheap Parking Stanstead and exchanging offerings that have value for customers, clients, partners, and society at large.".
Marketing methods are informed by Cheap Runescape Gold many of the social sciences, Cheap Runescape Gold particularly Cheap Runescape Gold psychology, sociology, and economics. Anthropology is also a small, but growing influence. Market research underpins these activities. Through advertising, it is also related to Cheap Runescape Gold many of the creative arts. Marketing is a wide and heavily interconnected subject Cheap Halloween Costumes Online with extensive publications. It is also an area of activity infamous for re-inventing itself and its Cheap Runescape Gold vocabulary according to the times and the culture.
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Many companies Cheap Runescape Gold today have a customer focus (or customer orientation). This implies that the company focuses its activities and products on consumer demands. Generally there Cheap Runescape Gold are three Cheap Runescape Gold ways of doing this: the customer-driven Cheap Runescape Gold approach, the sense Cheap Runescape Gold of identifying market changes and the product Cheap Runescape Gold innovation approach.
In Cheap Runescape Gold the consumer-driven approach, consumer wants Cheap Runescape Gold 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 Cheap Runescape Gold the nature of the product itself, is Cheap Runescape Gold driven Cheap Runescape Gold by the needs of potential consumers. The starting Cheap Runescape Gold point is always the consumer. The rationale Cheap Runescape Gold for this approach is that there is no point spending R&D funds developing products that people will Cheap Runescape Gold not 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, Cheap Runescape Gold Access). This system is basically the four Ps renamed Cheap Runescape Gold and reworded to provide a customer focus.
The SIVA Cheap Runescape Gold Model provides a Cheap Runescape Gold demand/customer centric version alternative to the well-known 4Ps supply side Cheap Runescape Gold model Cheap Runescape Gold (product, price, place, promotion) of marketing management.
In a product innovation approach, the company pursues product innovation, then tries to Cheap Runescape Gold develop a market for the product. Product innovation drives the process and marketing Cheap Online Purchase Ultram research is conducted Cheap Runescape Gold primarily to ensure that a Cheap Runescape Gold profitable market segment(s) exists for the innovation. The rationale is that customers may not know what options will Cheap Airfare Discount Air Fares be Cheap Runescape Gold available to them in the future so we Cheap Runescape Gold should not Cheap Runescape Gold expect them to tell us what Cheap Runescape Gold they will buy in the future. However, marketers can aggressively over-pursue product Cheap Runescape Gold innovation and try Cheap Runescape Gold to overcapitalize on a niche. Cheap Runescape Gold 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 research he Cheap Runescape Gold would have produced larger candles rather Cheap Runescape Gold than inventing light bulbs. Many firms, such as research and development focused companies, successfully focus on Cheap Runescape Gold product innovation (Such as Cheap Runescape Gold Nintendo who constantly change Cheap Runescape Gold the way Video games Cheap Runescape Gold 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. |
