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A market-focused, or customer-focused, organization first determines what its potential customers desire, Cheap Loans and then builds the product or service. Marketing theory and Cheap Loans practice is justified in the belief that Cheap Loans customers use a product or service because they Cheap Loans have a need, or because it provides a perceived benefit. Two major factors of marketing are the recruitment of Cheap Loans new Cheap Loans customers (acquisition) and the retention and expansion of relationships with existing customers (base management). Once a marketer has converted the prospective buyer, base management Cheap Loans marketing takes over. The process for base management shifts the Cheap Loans marketer to building a relationship, Cheap Loans nurturing the links, enhancing Cheap Loans the benefits Cheap Loans that sold the buyer in the first place, Cheap Loans and improving the product/service continuously to protect the business from competitive encroachments. For a marketing plan to be successful, the mix of the four "Ps" must reflect the wants and desires of the consumers or Shoppers in the target market. Cheap Loans Trying to convince a market segment to buy something they don't want is extremely expensive and Cheap Loans Cheap Broadband seldom successful. Marketers depend on insights from marketing research, both formal and informal, to determine what consumers want and what they are willing to pay for. Marketers hope that this process will give them a sustainable competitive advantage. Marketing management is the practical application of Cheap Loans this process. The offer is also an important addition to the 4P's theory. Within Cheap Loans most organizations, the activities encompassed by the marketing function are led by a Vice President or Director of Marketing. A growing number of organizations, especially

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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 that have value for Cheap Loans customers, clients, partners, and society at large.". Marketing methods Cheap Loans are informed by many of the social sciences, particularly psychology, sociology, and economics. Anthropology is also a small, but growing influence. Market Cheap Loans research underpins these activities. Through advertising, it is also related to many of the creative arts. Marketing is a wide and heavily interconnected subject with Cheap Loans extensive publications. It is also an area of activity infamous Cheap Loans for re-inventing itself and its vocabulary according to the times and the culture. Many companies today Cheap Loans have a customer focus Cheap Loans (or customer orientation). This implies Cheap Loans that the company focuses its activities and products on consumer demands. Cheap Loans Generally there are three ways of doing this: the customer-driven approach, the Cheap Loans sense of identifying market changes and the product innovation approach. In the consumer-driven Cheap Loans approach, consumer wants are the drivers of Cheap Loans all strategic Cheap Loans marketing decisions. No strategy is pursued until it passes the test of Cheap Loans 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 consumer. The rationale for this approach is that there is Cheap Loans 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 Cheap Loans marketing is known as SIVA[3] (Solution, Information, Value, Access). Cheap Loans This system is basically the four Ps renamed and reworded to

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provide a customer focus. The SIVA Model Cheap Loans provides a demand/customer centric version alternative Cheap Loans to the well-known 4Ps supply side model Cheap Loans (product, price, Cheap Loans place, promotion) of marketing management. In a product Cheap Loans innovation approach, the company Cheap Loans pursues Cheap Loans product innovation, then tries Cheap Loans to develop a market for the product. Product innovation drives Cheap Loans the Cheap Loans process and Cheap Loans marketing research is conducted primarily to ensure that a profitable market segment(s) exists for the innovation. Cheap Loans The rationale is that customers may Cheap Loans not Cheap Loans know what options will be available to them in the future so Cheap Loans we should not expect them to tell us what they will buy in the Cheap Loans future. However, marketers Cheap Loans can aggressively over-pursue product innovation and try to overcapitalize on a niche. 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 research he Cheap Loans would have produced Cheap Loans larger candles rather than inventing light bulbs. Many firms, such as research and development focused Cheap Loans companies, successfully focus on product innovation (Such as Nintendo who constantly change the way Video games are played). Many purists doubt whether

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this is Cheap Loans really a form Cheap Loans of marketing orientation at all, because Cheap Loans of the ex post status of consumer research. Some even question whether it is marketing.