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 they have a need, or because it provides a perceived benefit.
Two Cheap Nookie major factors of marketing are the recruitment of new customers (acquisition) and the 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 marketer to building a relationship, nurturing the links, enhancing the benefits that sold the buyer in the first Cheap Nookie place, and improving the product/service continuously to protect the business from Cheap Nookie competitive encroachments.
For Cheap Nookie a marketing plan to be successful, the mix of Cheap Nookie the four "Ps" must reflect the wants and desires of the consumers or Cheap Nookie Shoppers in the target market. Trying to convince a market segment to buy something they don't want is extremely expensive Cheap Nookie and seldom successful. Marketers depend on insights from marketing research, both formal Cheap Nookie and Cheap Nookie informal, to determine what consumers want and what they are willing to pay for. Marketers hope that Cheap Nookie this process will give them a sustainable Cheap Nookie competitive advantage. Marketing management is the practical application of this process. The offer is Cheap Nookie also an important addition to the 4P's theory.
Within 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 large US companies, Cheap Nookie have a Chief Marketing Officer position, reporting to the Chief Executive Officer.
The American Marketing Association (AMA) states, �Marketing is the Cheap Nookie activity, set of institutions, and processes for creating, communicating, Cheap Nookie delivering, and Cheap Nookie exchanging offerings that have value Cheap Nookie for Cheap Nookie customers, clients, partners, and society at large.".
Marketing Cheap Nookie methods are informed by many of the Cheap Nookie social sciences, particularly psychology, sociology, and economics. Anthropology is also Cheap Nookie a small, but growing influence. Cheap Nookie Market research underpins these activities. Through advertising, Cheap Nookie it is also related to many of the Cheap Nookie creative arts. Marketing is a Cheap Nookie wide and heavily interconnected subject with extensive publications. It is also an area of activity Cheap Nookie infamous for re-inventing Cheap Nookie itself Cheap Nookie and its vocabulary according to the times and the culture.
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Many companies today have a customer focus (or customer orientation). Cheap Nookie This implies that the Cheap Nookie company focuses its activities and products on consumer demands. Generally there are three ways of doing this: the customer-driven approach, the sense of identifying Cheap Nookie market Cheap Nookie changes and Cheap Nookie the product innovation approach.
In the consumer-driven approach, consumer wants are Cheap Nookie the drivers of all strategic marketing decisions. No strategy is Cheap Nookie pursued until it passes the test of consumer research. Every Cheap Nookie 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 no point spending R&D funds developing products that Cheap Nookie people will Cheap Nookie not buy. History attests Cheap Nookie to many products that were commercial failures in spite of being technological breakthroughs.
A formal Cheap Nookie approach to Cheap Nookie this customer-focused marketing is known as SIVA[3] Cheap Nookie (Solution, Information, Value, Access). This system is basically the four Ps Cheap Nookie 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 Nookie (product, price, place, promotion) of marketing management.
In a product innovation approach, the company pursues product innovation, then tries to develop a market Cheap Nookie for the Cheap Nookie product. Product innovation drives Cheap Nookie the process and marketing research is conducted primarily Cheap Nookie to Cheap Nookie ensure that a Cheap Nookie profitable market Cheap Nookie segment(s) exists for the innovation. The rationale is that customers may not know what options will be available to them Cheap Nookie in the Cheap Nookie future so we should not expect them to tell us what they will buy in the future. However, marketers can Cheap Nookie aggressively over-pursue product innovation and try to overcapitalize on a niche. When pursuing a product innovation approach, marketers must Cheap Nookie ensure Cheap Nookie that they have a varied and multi-tiered approach to product innovation. It is claimed that 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 purists doubt Cheap Nookie whether this is really a form of marketing orientation at all, because of Cheap Nookie the ex post status of consumer research. Some even question whether it Cheap Nookie is marketing. |
