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