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A market-focused, or customer-focused, organization first Cheap Umpire Pants determines what its potential customers desire,
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and Cheap Umpire Pants then Cheap Umpire Pants builds the product or service. Marketing theory and practice is justified in the belief that customers use a product or service because
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they have a need, or because it provides a perceived benefit.
Two major factors of marketing are the recruitment of new customers (acquisition) and the retention and expansion of relationships
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Cheap Umpire Pants relationship, nurturing the links, enhancing
Cheap Umpire Pants the benefits that sold the buyer in Cheap Umpire Pants the Cheap Umpire Pants first place, and improving the product/service continuously to protect the business from competitive encroachments.
For a marketing
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plan to be successful, Cheap Umpire Pants 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 don't want is extremely expensive and seldom successful. Marketers depend on insights from marketing research, both formal and informal, to determine what consumers
Cheap Umpire Pants want and Cheap Umpire Pants what they are willing to pay for. Marketers hope that this process will give them a sustainable competitive advantage. Marketing management Cheap Umpire Pants is the practical application of this process. The offer is also an important addition to the 4P's theory.
Within most organizations, the Cheap Umpire Pants activities encompassed by the marketing function
Cheap Umpire Pants are led by a Vice President or Director of Marketing. A growing number of organizations, especially Cheap Umpire Pants large US companies, have Cheap Umpire Pants a Chief Marketing 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 Umpire Pants delivering, and exchanging Cheap Umpire Pants offerings that have value for customers, clients, partners, and society at Cheap Umpire Pants large.".
Marketing methods are informed by many of the social sciences, particularly psychology, sociology, and economics. Anthropology is also a Cheap Umpire Pants small, but growing influence. Market research underpins these activities. Through advertising, it is also related to many Cheap Umpire Pants 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 times and the Cheap Umpire Pants culture.
Many companies today have a customer focus (or customer orientation). This implies that the company focuses its activities and products on consumer demands. Generally there are three ways of doing this: the customer-driven approach, the Cheap Umpire Pants sense of identifying market changes and the product innovation
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In the
Cheap Umpire Pants consumer-driven approach, consumer wants Cheap Umpire Pants are the drivers of all strategic marketing Cheap Umpire Pants decisions. No strategy is pursued until it Cheap Umpire Pants passes the test of consumer research. Every aspect Cheap Umpire Pants of a market Cheap Umpire Pants offering, including the nature of Cheap Umpire Pants the product itself, is driven by the needs of potential Cheap Umpire Pants consumers. The starting point is always the consumer. The rationale Cheap Umpire Pants for this approach Cheap Umpire Pants is that there
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is no point spending R&D funds developing products that people will not buy. History attests to many products that were commercial failures in spite of being technological breakthroughs.
A formal approach to this customer-focused marketing is known Cheap Umpire Pants as SIVA[3] (Solution, Information, Value, Access). This system is Cheap Umpire Pants basically the four Ps renamed and reworded to Cheap Umpire Pants 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
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market for the product. Product innovation drives the process and marketing research Cheap Umpire Pants is Cheap Umpire Pants conducted Cheap Umpire Pants primarily to ensure that a profitable market segment(s) exists for the innovation. The rationale is that customers may not know what options will be available to them in the Cheap Umpire Pants future so we should not expect Cheap Umpire Pants them to tell us what Cheap Umpire Pants they will buy in the future. However, marketers can
Cheap Umpire Pants aggressively over-pursue product innovation and Cheap Umpire Pants try to overcapitalize
Cheap Umpire Pants on a niche. Cheap Umpire Pants 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 Cheap Umpire Pants research he would have produced
Cheap Umpire Pants larger candles rather than inventing light bulbs. Many firms, such as
Cheap Umpire Pants research Cheap Umpire Pants 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 Cheap Umpire Pants really Cheap Umpire Pants a form of marketing orientation at all, because of the ex post status of consumer research. Some even question whether it is marketing.
