A market-focused, or customer-focused, organization first determines what its potential customers Cheap Worktops desire, and then builds Cheap Worktops the Cheap Worktops product or service. Marketing theory and practice is justified in the belief Cheap Worktops that customers use a product or service because they Cheap Worktops have a need, or because Cheap Worktops it provides a perceived benefit.
Two major factors of marketing are 19used And Cheap Motor Scooter the recruitment of new customers (acquisition) and the retention and expansion of relationships with existing customers (base Cheap Worktops management). Once a marketer has converted the Cheap Worktops prospective buyer, base management marketing takes over. The process for base management shifts the marketer to building Cheap Worktops a relationship, nurturing the links, enhancing the benefits that sold the Cheap Worktops buyer in the Cheap Worktops 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 Cheap Worktops wants Cheap Worktops and Cheap Worktops desires of the consumers or Shoppers in the target market. Trying Cheap Worktops to convince a market segment Cheap Worktops to buy something they don't Cheap Worktops 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. Cheap Worktops Marketers hope that this Cheap Worktops process will give them a sustainable competitive advantage. Marketing management is the practical application of this process. The offer is also an important Cheap Worktops addition to Cheap Worktops the 4P's theory.
Within most organizations, the Cheap Worktops activities Cheap Worktops encompassed by the Cheap Worktops marketing function are Cheap Worktops led by Cheap Worktops a Vice President or Director of Marketing. A growing number of organizations, especially large US companies, have Cheap Worktops a Chief Marketing Officer position, reporting to the Chief Executive Officer.
The American Marketing Association (AMA) states, �Marketing is the activity, set of institutions, Cheap Worktops and processes for creating, communicating, delivering, and exchanging offerings that have value for Cheap Worktops customers, clients, partners, and society at large.".
Marketing methods are Cheap Worktops 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 also related to many of the creative arts. Marketing is a wide and Cheap Worktops heavily interconnected subject Cheap Worktops with extensive publications. It is also an area of activity infamous for re-inventing itself and its vocabulary according Cheap Worktops to the times and the culture.
Many companies today have a customer focus (or customer orientation). This implies that the Cheap Rate Us Personal Loans company focuses its activities and products on consumer demands. Generally there are three ways of doing Cheap Worktops this: the customer-driven approach, the sense of Cheap Light Box identifying market changes and the Cheap Worktops product innovation approach.
In Cheap Worktops the consumer-driven approach, consumer wants are the drivers of all strategic Cheap Worktops marketing decisions. No strategy is pursued Cheap Worktops until it passes the Cheap Worktops test of consumer research. Every aspect Cheap Nameplate Necklaces Gold Diamonds of Cheap Worktops a market offering, Cheap Worktops Nebraska Cheap Fast Dial Up Internet including the nature of the product itself, is driven by the needs of potential consumers. The starting point is always the consumer. The rationale for this approach Cheap Worktops is that there is no point spending R&D funds developing products that people will not buy. History attests to many products Cheap Worktops that were commercial failures in spite of being technological breakthroughs.
A formal approach Cheap Worktops to this customer-focused marketing is known as SIVA[3] (Solution, Information, Cheap Worktops Value, Access). Cheap Worktops This system is basically the four Ps renamed and reworded to provide a customer focus.
The SIVA Model provides a demand/customer centric version alternative to the well-known 4Ps supply 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 the product. Product innovation drives Cheap Worktops the process and marketing research is conducted primarily to ensure that Cheap Worktops a Cheap Worktops profitable market segment(s) exists for the innovation. The rationale is that customers may not know what options will be available to Cheap Worktops them in the future so Cheap Worktops we should not expect them to tell us what Cheap Worktops they will buy in Cheap Worktops the future. However, marketers can aggressively over-pursue Cheap Worktops product innovation and try to overcapitalize Tickets Cheap Airfare 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 Cheap Worktops is claimed that if Thomas Edison depended on marketing research he would have produced larger candles rather than inventing Cheap Worktops light bulbs. Cheap Worktops Many firms, such as research Cheap Worktops 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 Cheap Worktops is marketing. |
