A market-focused, or customer-focused, organization first determines what its Cheap Rental Trucks potential customers desire, and then builds the product or service. Marketing theory Cheap Rental Trucks and practice is justified in the belief that customers use a product or service because they have a need, or because it provides a perceived Cheap Rental Trucks benefit.
Two major factors of marketing are the recruitment of new customers (acquisition) and the Cheap Rental Trucks retention and expansion of relationships with existing customers (base management). Once a marketer has converted the prospective buyer, base management marketing takes over. The process for base management shifts the Cheap Rental Trucks marketer to building a Cheap Rental Trucks relationship, nurturing the links, enhancing the benefits that Cheap Rental Trucks sold the buyer in the first place, Cheap Rental Trucks and improving the product/service continuously to protect the business from competitive encroachments.
For a marketing Cheap Rental Trucks plan to be successful, the mix of the four "Ps" must reflect the wants and desires of the consumers or Shoppers Cheap Rental Trucks in Cheap Rental Trucks the target market. Cheap Rental Trucks Trying to Cheap Rental Trucks convince a market segment to buy Cheap Rental Trucks 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 want Cheap Rental Trucks and what they are willing to pay for. Cheap Rental Trucks Marketers hope that this Cheap Rental Trucks 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 Cheap Rental Trucks the 4P's theory.
Within most organizations, Cheap Rental Trucks the activities encompassed by the marketing function Cheap Rental Trucks are led by a Vice President or Director of Marketing. Cheap Rental Trucks A growing number of organizations, especially large Cheap Rental Trucks US companies, have a Chief Marketing Officer position, reporting to the Cheap Rental Trucks Chief Executive Officer.
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The Cheap Rental Trucks American Marketing Association (AMA) states, �Marketing is the activity, set of institutions, Cheap Rental Trucks and processes Cheap Rental Trucks for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and Cheap Rental Trucks society at large.".
Marketing methods are informed by many of the social sciences, particularly psychology, sociology, and economics. Anthropology is also a small, but growing Cheap Rental Trucks influence. Market research underpins Cheap Rental Trucks these activities. Through advertising, Cheap Rental Trucks 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 Cheap Rental Trucks infamous for re-inventing Cheap Rental Trucks itself and its vocabulary according to the times and the culture.
Many companies today have a customer focus (or customer orientation). Cheap Rental Trucks This implies that Cheap Rental Trucks the company focuses its activities and products on consumer demands. Generally there are three ways of doing this: the customer-driven Cheap Rental Trucks approach, the sense of identifying market changes and the product innovation approach.
In the consumer-driven Cheap Rental Trucks approach, consumer wants are the drivers of all strategic marketing decisions. No strategy is pursued until it passes the test of Cheap Rental Trucks consumer research. Every aspect of a market offering, including the nature of the product itself, is driven by the needs Cheap Rental Trucks of potential consumers. The starting Cheap Rental Trucks point is always the consumer. The rationale for Cheap Rental Trucks this approach is that Cheap Rental Trucks there is no point spending R&D funds developing products that people will not buy. History attests Cheap Rental Trucks to many products that were commercial failures in spite of being technological Cheap Rental Trucks breakthroughs.
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A formal approach to this customer-focused Cheap Rental Trucks marketing is known as Cheap Rental Trucks SIVA[3] (Solution, Information, Value, Access). This Cheap Rental Trucks system is basically the four Ps renamed and reworded to provide a customer focus.
The SIVA Model Cheap Rental Trucks provides Cheap Rental Trucks 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 market for the product. Product innovation Cheap Rental Trucks drives the Cheap Rental Trucks process and marketing research is conducted primarily to ensure that a profitable market segment(s) exists for the innovation. The rationale is Cheap Rental Trucks that customers may Cheap Rental Trucks not know what options will be available to them in the future so we should not expect them to tell us what they will buy in the future. However, marketers can aggressively over-pursue product innovation and try to overcapitalize on a niche. When pursuing a product innovation approach, marketers must ensure Cheap Rental Trucks that Cheap Rental Trucks they have a varied and multi-tiered approach to product innovation. It is claimed that Cheap Rental Trucks if Thomas Edison depended on marketing research he would have produced larger candles rather than inventing light bulbs. Many firms, such as research and development focused companies, successfully focus on product innovation (Such as Nintendo who constantly change the way Video games are played). Many Cheap Rental Trucks purists doubt whether this is really a form of marketing orientation at all, because Cheap Rental Trucks of the ex post Cheap Rental Trucks status of consumer research. Some Cheap Rental Trucks even question whether it is marketing. |
