A market-focused, or customer-focused, organization first determines Cheap Verizon Ringtones what its potential customers desire, and then builds the product or service. Marketing theory Cheap Verizon Ringtones and practice Cheap Verizon Ringtones is Cheap Verizon Ringtones justified in the belief that customers use a product or service because they have Cheap Verizon Ringtones a need, or because it provides Cheap Verizon Ringtones a perceived Cheap Verizon Ringtones benefit.
Two major factors of marketing are the recruitment of new customers (acquisition) and the retention and expansion Cheap Verizon Ringtones of relationships with Cheap Verizon Ringtones existing customers (base management). Once a marketer has converted the Cheap Verizon Ringtones prospective buyer, base management marketing takes over. The process for base management shifts the marketer to building a relationship, nurturing the links, Cheap Verizon Ringtones enhancing the Cheap Verizon Ringtones benefits that sold the buyer in the Cheap Verizon Ringtones 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 Cheap Verizon Ringtones the four "Ps" must reflect the wants and desires of the consumers or Shoppers in the target market. Trying to convince a market segment Cheap Verizon Ringtones to buy something they don't want is extremely expensive and seldom successful. Cheap Verizon Ringtones Marketers Cheap Verizon Ringtones depend on insights from marketing research, Cheap Verizon Ringtones both formal and informal, to determine what consumers want and what they are willing to Cheap Verizon Ringtones pay for. Marketers hope that this process will give them a sustainable competitive advantage. Marketing management is the Cheap Verizon Ringtones practical Cheap Verizon Ringtones application of this process. The offer is also an important addition to the 4P's theory.
Within most organizations, the activities encompassed by the marketing Cheap Verizon Ringtones function are led by a Vice President or Director of Marketing. Cheap Verizon Ringtones A growing number of organizations, especially large US companies, have 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, delivering, and exchanging offerings Cheap Verizon Ringtones that have value for Cheap Verizon Ringtones customers, clients, partners, and society at large.".
Marketing methods are informed by many of the social sciences, particularly psychology, sociology, Cheap International Flights Europe America and economics. Anthropology is Cheap Verizon Ringtones also a small, but growing influence. Market research underpins these activities. Through Cheap Verizon Ringtones advertising, it is also related to many of the creative arts. Cheap Verizon Ringtones 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 Cheap Verizon Ringtones according to the times and Cheap Verizon Ringtones the culture.
Many companies today have a customer focus (or customer orientation). This implies Cheap Verizon Ringtones that the company focuses its activities and products on consumer demands. Generally there are three ways of doing this: the customer-driven approach, Cheap Verizon Ringtones the sense of Cheap Verizon Ringtones identifying Cheap Verizon Ringtones 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 Cheap Verizon Ringtones pursued until it passes the test of consumer Cheap Verizon Ringtones research. Every aspect of a market offering, including Cheap Verizon Ringtones the nature of the product Cheap Verizon Ringtones itself, is driven by the needs of potential consumers. The starting Cheap Verizon Ringtones 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 in Cheap Verizon Ringtones spite of Cheap Verizon Ringtones being technological breakthroughs.
A formal approach Cheap Verizon Ringtones to this customer-focused marketing is known as SIVA[3] (Solution, Information, Value, Access). This system is basically the four Cheap Verizon Ringtones Ps renamed and reworded to provide a customer focus.
The SIVA Model provides a demand/customer Cheap Verizon Ringtones centric version alternative to the well-known 4Ps supply side model (product, price, place, promotion) of marketing management.
In a product Cheap Verizon Ringtones innovation approach, 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. Cheap Verizon Ringtones The rationale is that customers may not know what options will be available to them in the future Cheap Verizon Ringtones so we should not expect them to tell Cheap Verizon Ringtones us what they will Cheap Verizon Ringtones buy in the future. However, marketers can aggressively over-pursue product innovation and try to Cheap Verizon Ringtones overcapitalize on a niche. When pursuing a product Cheap Verizon Ringtones innovation approach, marketers must Cheap Verizon Ringtones ensure that Cheap Verizon Ringtones they have a varied and multi-tiered approach to product innovation. It is claimed that if Thomas Edison depended on marketing research Cheap Verizon Ringtones he would have produced larger candles rather than inventing Cheap Verizon Ringtones light bulbs. Many firms, such as research and Cheap Verizon Ringtones development focused companies, successfully Cheap Verizon Ringtones 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 Cheap Verizon Ringtones of marketing orientation at all, because of the ex post status of consumer research. Some even question Cheap Verizon Ringtones whether it is marketing. |
