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 or service because Cheap Parelli Equipment 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 with existing customers (base management). Cheap Parelli Equipment Once a marketer has converted the prospective buyer, base management marketing takes over. The process for base management shifts the marketer to building a Cheap Parelli Equipment 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 Cheap Parelli Equipment competitive encroachments.
For a marketing Cheap Parelli Equipment plan to be successful, the mix of the four "Ps" Cheap Parelli Equipment must reflect the wants and desires of the consumers or Shoppers in the target market. Trying to convince a market Cheap Parelli Equipment segment to buy something they don't want is extremely expensive and seldom successful. Marketers Cheap Parelli Equipment depend on insights from marketing research, both formal Cheap Parelli Equipment and informal, to determine what consumers want and what they are willing to pay for. Cheap Parelli Equipment Marketers hope that this process will Cheap Parelli Equipment give them a sustainable competitive advantage. Marketing management Cheap Parelli Equipment is the practical application of this Cheap Parelli Equipment process. The offer is also an important addition to the 4P's theory.
Within most organizations, the activities encompassed Cheap Parelli Equipment by the marketing function are led by a Vice President or Director of Cheap Parelli Equipment Marketing. Cheap Parelli Equipment A growing number of organizations, especially large US companies, have Cheap Parelli Equipment a Chief Marketing Officer position, reporting to the Chief Executive Officer.
The American Marketing Association Cheap Parelli Equipment (AMA) states, �Marketing is the activity, set of institutions, and processes for Cheap Parelli Equipment creating, Cheap Parelli Equipment communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large.".
Marketing methods are Cheap Parelli Equipment informed by many of the social sciences, particularly Cheap Parelli Equipment psychology, sociology, and economics. Cheap Parelli Equipment Anthropology is also a small, but growing Cheap Parelli Equipment influence. Market research underpins these activities. Through advertising, it is Cheap Parelli Equipment also Cheap Parelli Equipment related 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 Cheap Parelli Equipment re-inventing itself and its vocabulary according to the times and the Cheap Parelli Equipment culture.
Many companies today have a customer focus (or customer orientation). This implies that the company focuses its activities and products on consumer demands. Cheap Parelli Equipment Generally there are three ways of doing this: the Cheap Parelli Equipment customer-driven approach, the sense of identifying market changes and the product innovation approach.
In Cheap Parelli Equipment the consumer-driven approach, consumer wants are the drivers of Cheap Parelli Equipment all strategic marketing decisions. No strategy Cheap Parelli Equipment is pursued until Cheap Parelli Equipment it Cheap Parelli Equipment passes Cheap Parelli Equipment the test of consumer research. Every aspect of a market offering, including the nature of the product itself, is driven by the needs of potential consumers. The starting point is always the Cheap Parelli Equipment consumer. The rationale for this approach is that there is no point spending R&D Cheap Parelli Equipment 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 as SIVA[3] Cheap Parelli Equipment (Solution, Information, Value, Access). This system is Cheap Parelli Equipment basically the four Ps renamed and reworded to provide Cheap Parelli Equipment a customer focus.
The SIVA Model provides a Cheap Parelli Equipment 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 market for Cheap Parelli Equipment the product. Product innovation drives Cheap Parelli Equipment the process and marketing research is Cheap Parelli Equipment conducted primarily to ensure that a profitable Cheap Parelli Equipment market segment(s) exists for the innovation. The rationale is that customers may not know what options will be Cheap Parelli Equipment available to them in the future so we should not expect them to tell us what they will Cheap Parelli Equipment buy in the future. However, marketers can aggressively over-pursue product innovation and try to overcapitalize Cheap Parelli Equipment on a niche. When pursuing a product innovation approach, marketers must ensure that they have a varied and multi-tiered approach to product Cheap Parelli Equipment innovation. Cheap Parelli Equipment It is claimed that if Thomas Edison depended Cheap Parelli Equipment on marketing research he would Cheap Parelli Equipment have produced larger candles rather than inventing light bulbs. Many Cheap Parelli Equipment firms, Cheap Parelli Equipment such as research and development focused companies, successfully focus on product innovation (Such Cheap Parelli Equipment as Nintendo who constantly change the way Video games are Cheap Parelli Equipment played). Many purists doubt whether this is really Cheap Parelli Equipment a Cheap Parelli Equipment form of marketing orientation at all, because of the ex post status of consumer research. Some even question whether it is marketing. |
