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 London Rental Cars or service because they have a need, or because it provides a Cheap London Rental Cars perceived benefit.
Two major factors of marketing are the recruitment of new customers (acquisition) and Cheap London Rental Cars the retention and expansion of relationships with existing customers (base management). Once a marketer has converted the prospective buyer, base management marketing takes Cheap London Rental Cars 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 Cheap London Rental Cars 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 desires of the Cheap London Rental Cars 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 Cheap London Rental Cars formal and informal, to determine what consumers want and what they Cheap London Rental Cars are willing to pay for. Marketers hope that this process will give them a sustainable competitive Cheap London Rental Cars advantage. Marketing management is the practical application of this process. The offer is also an important addition to the Cheap London Rental Cars 4P's theory.
Within most organizations, the activities encompassed by the marketing function are led by a Vice Cheap London Rental Cars President or Director of Marketing. A growing Cheap London Rental Cars number of organizations, especially large US companies, Cheap London Rental Cars have a Chief Marketing Officer position, reporting to the Cheap London Rental Cars Chief Cheap London Rental Cars Executive Officer.
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The American Marketing Association (AMA) states, �Marketing is Cheap London Rental Cars the activity, set of institutions, and processes for creating, Cheap London Rental Cars communicating, delivering, and Cheap London Rental Cars exchanging offerings Cheap London Rental Cars that have value for Cheap Flights Italy To France customers, Cheap London Rental Cars clients, partners, and society at large.".
Marketing methods are Cheap London Rental Cars 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 Cheap London Rental Cars advertising, it is Cheap London Rental Cars also related Cheap London Rental Cars to many of the creative arts. Marketing is a wide and heavily interconnected subject with extensive publications. It is also an area of activity infamous for re-inventing itself and its vocabulary according to the Cheap London Rental Cars times Cheap London Rental Cars and the culture.
Many companies today have a customer focus (or customer orientation). This implies Airline Ticket Cheap Uk that the company focuses Cheap London Rental Cars 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 and the product innovation approach.
In the consumer-driven approach, consumer wants are the drivers of all strategic marketing decisions. No strategy is pursued until it passes the Cheap London Rental Cars test of consumer research. Cheap London Rental Cars Every aspect of a market offering, including the nature of the product itself, is driven by Cheap London Rental Cars the needs of potential consumers. The starting Cheap London Rental Cars 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 many products that were commercial failures Cheap London Rental Cars in spite of being technological Cheap U S Travel Insurance breakthroughs.
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A formal approach Cheap London Rental Cars to Cheap London Rental Cars this customer-focused marketing is known as SIVA[3] (Solution, Information, Value, Access). This system is basically the four Ps Cheap London Rental Cars renamed and Cheap London Rental Cars reworded to provide a Cheap Cars In Hickory Nc customer focus.
The Cheap London Rental Cars SIVA Cheap London Rental Cars Model provides a Cheap London Rental Cars demand/customer centric version alternative to Cheap London Rental Cars the well-known 4Ps supply side model (product, Cheap London Rental Cars 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 the Cheap London Rental Cars process and marketing Cheap London Rental Cars research is conducted primarily to ensure Cheap London Rental Cars that a profitable market segment(s) exists Cheap London Rental Cars for the Cheap London Rental Cars innovation. The rationale is that customers may not know what options will be available to Cheap London Rental Cars them in the future so we should Cheap London Rental Cars not expect them to tell us what they will buy in the future. However, marketers can aggressively Cheap London Rental Cars over-pursue product innovation and try to overcapitalize on a niche. When pursuing a product innovation Cheap London Rental Cars approach, marketers must ensure that they have a Cheap London Rental Cars varied and multi-tiered approach Cheap London Rental Cars to product Cheap London Rental Cars innovation. It is claimed that if Thomas Edison depended on marketing research Cheap Performance Muffler he would have produced larger candles rather than inventing light bulbs. Many firms, such as research and development Cheap London Rental Cars focused companies, successfully focus on product innovation (Such as Nintendo who constantly change the Cheap London Rental Cars way Video games are Cheap London Rental Cars played). Many Cheap London Rental Cars purists doubt whether this is really a form of marketing orientation at all, because of Cheap London Rental Cars the ex post status of consumer research. Some even question Cheap London Rental Cars whether it is marketing. |
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