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For a marketing plan to be successful, the mix of the four "Ps" must reflect the wants and desires of the consumers or Shoppers in the target market. Trying to convince a market segment to buy something they Cheap Alaska Airline Htm 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 Cheap Alaska Airline Htm and what they are willing to pay for. Marketers hope that this process will give them a sustainable competitive advantage. Marketing Cheap Alaska Airline Htm management is the practical application Cheap Alaska Airline Htm of Cheap Alaska Airline Htm this process. The offer is also an important addition to the 4P's theory.
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In a product innovation approach, Cheap Alaska Airline Htm 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 that a profitable market segment(s) exists for the innovation. The rationale is that customers may not know what options Cheap Alaska Airline Htm will be available to them in the future so we should not Cheap Alaska Airline Htm expect them to tell us what they will buy in the future. However, marketers can aggressively over-pursue product innovation and try Cheap Alaska Airline Htm to overcapitalize on Cheap Alaska Airline Htm a niche. When pursuing a product innovation Cheap Alaska Airline Htm approach, marketers must ensure that they have a varied and multi-tiered approach to product innovation. Cheap Alaska Airline Htm It is claimed that if Thomas Edison depended Cheap Alaska Airline Htm on marketing research he would have produced larger candles rather than Cheap Alaska Airline Htm inventing light bulbs. Many firms, such as research and development focused Cheap Alaska Airline Htm companies, successfully focus on Cheap Alaska Airline Htm 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 Cheap Alaska Airline Htm orientation at all, because of the ex post status of consumer research. Some even question Cheap Alaska Airline Htm whether it is Cheap Alaska Airline Htm marketing. |
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