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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 Cheap Car Hire Larnaka because they
Cheap Car Hire Larnaka have a need, or
Cheap Car Hire Larnaka because it provides Cheap Car Hire Larnaka a perceived benefit.
Two major factors of marketing are the recruitment of new customers (acquisition) and the retention and Cheap Car Hire Larnaka expansion of relationships with existing customers (base management). Once a marketer has converted the prospective buyer, base
Cheap Car Hire Larnaka management marketing takes over. The process Cheap Car Hire Larnaka for base management shifts the marketer to
Cheap Car Hire Larnaka building a relationship, nurturing the links, enhancing the benefits that sold the buyer in the first place, and improving the product/service continuously
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to protect the business from competitive encroachments.
For a marketing plan to be successful, the mix of Cheap Car Hire Larnaka the four "Ps" must reflect Cheap Car Hire Larnaka the wants and desires of the consumers or Shoppers in the target market. Trying to convince a market segment to Cheap Car Hire Larnaka buy something they don't want is extremely Cheap Car Hire Larnaka expensive and seldom successful. Marketers depend
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on insights from marketing research, both Cheap Car Hire Larnaka formal and informal, to determine what consumers want and what they are willing to pay for. Marketers Cheap Car Hire Larnaka hope that this process will give them a sustainable competitive advantage. Marketing management is the practical application of this process. The offer is also an important addition to
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the 4P's theory.
Within most organizations, the activities encompassed by the marketing function are led by a
Cheap Car Hire Larnaka Vice President or Director of Marketing. A growing number of organizations, especially large US companies, have a Chief Marketing Officer position,
Cheap Car Hire Larnaka reporting to the Cheap Car Hire Larnaka Chief Cheap Car Hire Larnaka Executive Officer.
The American Marketing Association (AMA) states, �Marketing is the activity, set of institutions, and processes for creating, communicating, delivering,
Cheap Car Hire Larnaka and exchanging offerings that have value for customers, Cheap Car Hire Larnaka clients, partners, and
Cheap Car Hire Larnaka society at large.".
Marketing methods Cheap Car Hire Larnaka are 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 Car Hire Larnaka advertising, it is also 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 re-inventing itself and its vocabulary according to the times and the
Cheap Car Hire Larnaka culture.
Many
Cheap Car Hire Larnaka companies today have a customer focus (or customer orientation). This implies that the company focuses Cheap Car Hire Larnaka 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 Cheap Car Hire Larnaka are Cheap Car Hire Larnaka the drivers
Cheap Car Hire Larnaka of all strategic marketing decisions. Cheap Car Hire Larnaka No strategy is pursued until it passes the test of consumer research. Every aspect of a Cheap Car Hire Larnaka market Cheap Car Hire Larnaka offering, including the nature of the product itself, is driven by the Cheap Car Hire Larnaka needs of potential consumers. Cheap Car Hire Larnaka The starting point is Cheap Car Hire Larnaka always the Cheap Car Hire Larnaka consumer. The rationale for this approach is that there is no point spending R&D
Cheap Car Hire Larnaka funds
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developing products that people will not
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of being technological breakthroughs.
A formal approach to this customer-focused marketing is known as SIVA[3] (Solution, Information, Value, Access). This system is basically the four Ps renamed and reworded to provide a customer focus.
The SIVA Model provides a demand/customer centric version alternative to the well-known 4Ps supply side model Cheap Car Hire Larnaka (product, price, place, promotion) of marketing management.
In a product innovation Cheap Car Hire Larnaka approach, the Cheap Car Hire Larnaka 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 will be available to them in the future so we should not expect them to tell us
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what they will buy in the future. However, marketers can aggressively over-pursue product innovation
Cheap Car Hire Larnaka and try to overcapitalize on a niche. When pursuing a product Cheap Car Hire Larnaka innovation approach, marketers must ensure Cheap Car Hire Larnaka that they
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have a varied and multi-tiered approach to product innovation. It is claimed that if Thomas Edison depended on marketing research he would have Cheap Car Hire Larnaka produced larger candles rather than inventing light bulbs. Many Cheap Car Hire Larnaka firms, such Cheap Car Hire Larnaka as research and development focused companies, successfully focus on product innovation (Such as Nintendo who constantly change the way Video games are played). Many purists
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Cheap Car Hire Larnaka marketing Cheap Car Hire Larnaka orientation at all, because of the ex post status of consumer research. Some even question whether it
Cheap Car Hire Larnaka is marketing.
