A market-focused, or Cheap Free Web Hosting customer-focused, Cheap Free Web Hosting organization first Cheap Free Web Hosting determines what its potential customers desire, and then builds Cheap Free Web Hosting the product Cheap Free Web Hosting or service. Marketing theory and practice is justified in the belief Cheap Free Web Hosting that customers use a product Cheap Free Web Hosting or service because they have a need, or because it provides a perceived benefit.
Two major factors Cheap Free Web Hosting of marketing are the recruitment of Cheap Free Web Hosting new customers (acquisition) Cheap Free Web Hosting 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 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 Cheap Free Web Hosting desires Cheap Free Web Hosting of the consumers or Shoppers in the target market. Trying to convince a market Cheap Free Web Hosting segment to buy something they don't want is extremely expensive and seldom successful. Marketers depend Cheap Free Web Hosting on insights from marketing research, both formal and informal, to determine what consumers want and what they are Cheap Free Web Hosting willing to pay Cheap Free Web Hosting for. Marketers hope that this process Cheap Free Web Hosting will give them a sustainable Cheap Free Web Hosting competitive advantage. Marketing management is the practical application of this process. Cheap Free Web Hosting The offer is also an important addition to the 4P's theory.
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Within most organizations, the activities encompassed by the marketing function are led by Cheap Free Web Hosting a Vice President or Director of Marketing. A growing number of organizations, especially large US companies, have a Chief Marketing Cheap Free Web Hosting Officer position, reporting to the Chief Executive Officer.
The American Marketing Association (AMA) states, �Marketing is the activity, set of institutions, and processes for creating, communicating, Cheap Free Web Hosting delivering, and exchanging offerings that have value for customers, clients, partners, and society Cheap Free Web Hosting at large.".
Marketing methods are informed by Cheap Free Web Hosting many of the social sciences, particularly psychology, sociology, and economics. Anthropology is also Cheap Free Web Hosting a small, but growing influence. Market research underpins these activities. Through advertising, it is also Cheap Free Web Hosting related to many Cheap Free Web Hosting of the creative arts. Marketing is a wide and heavily interconnected subject with extensive publications. It is Cheap Free Web Hosting also an area of activity infamous for re-inventing itself and its vocabulary according to the times and the culture.
Many companies today have a customer focus (or customer orientation). This implies that the company focuses its activities and products Cheap Free Web Hosting on consumer demands. Generally Cheap Free Web Hosting there Cheap Free Web Hosting are three ways of doing this: the customer-driven Cheap Free Web Hosting approach, the sense of identifying Cheap Free Web Hosting market Cheap Free Web Hosting changes and the product innovation approach.
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In the consumer-driven approach, Cheap Free Web Hosting consumer 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 Cheap Free Web Hosting market offering, 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 is that there is no point spending R&D funds developing products that people will not buy. History attests to Cheap Free Web Hosting many products that were commercial failures in spite of being technological breakthroughs.
A formal approach to this customer-focused marketing is Cheap Free Web Hosting known Cheap Free Web Hosting as SIVA[3] (Solution, Information, Value, Access). This system is basically the four Ps Cheap Free Web Hosting renamed and reworded to provide Cheap Free Web Hosting a customer focus.
The SIVA Cheap Free Web Hosting Model provides a demand/customer centric version alternative to the well-known 4Ps supply side model (product, price, place, promotion) of Cheap Free Web Hosting marketing Cheap Free Web Hosting management.
In a product innovation Cheap Free Web Hosting approach, the company pursues product innovation, then tries to develop a Cheap Free Web Hosting market for the Cheap Free Web Hosting product. Product Cheap Free Web Hosting innovation drives the process and marketing Cheap Free Web Hosting research is conducted primarily to ensure that Cheap Free Web Hosting a profitable market segment(s) Cheap Free Web Hosting exists for the innovation. The rationale is that Cheap Free Web Hosting customers may not know what options will be Cheap Free Web Hosting available Cheap Free Web Hosting to them in the future so we should not Cheap Free Web Hosting expect them to tell us what they will buy in 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 research he would have produced larger candles rather Cheap Free Web Hosting than inventing light bulbs. Many firms, such as research and development focused companies, successfully focus on product innovation Cheap Free Web Hosting (Such as Nintendo who constantly change the way Video games are played). Many purists doubt whether this is really a form of marketing orientation Cheap Free Web Hosting at all, because of the ex post status of consumer research. Some even Cheap Free Web Hosting question whether it is marketing. |
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