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 Cheap Cane Furniture provides a perceived benefit.
Two major factors of marketing are the recruitment of new customers (acquisition) Cheap Cane Furniture and the retention and expansion of relationships Cheap Cane Furniture with existing customers (base management). Cheap Cane Furniture Once a marketer has converted the Cheap Cane Furniture prospective Cheap Cane Furniture 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 place, 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 Cheap Cane Furniture the target market. Trying to convince a market segment Cheap Cane Furniture to buy something they don't want is extremely expensive and seldom successful. Marketers depend on insights from marketing Cheap Cane Furniture research, both formal and informal, to determine what consumers want Cheap Cane Furniture and what they are willing to pay for. Marketers hope that this process will Cheap Cane Furniture give them a sustainable competitive advantage. Marketing Cheap Cane Furniture management is the practical application Cheap Cane Furniture of this process. Cheap Cane Furniture The offer is also an important addition to the 4P's theory.
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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, Cheap Cane Furniture especially large US companies, have a Cheap Jeans Chief Marketing Officer position, reporting to the Chief Executive Officer.
The American Marketing Association Cheap Cane Furniture (AMA) states, �Marketing is the Cheap Cane Furniture activity, set of institutions, and processes for creating, communicating, Cheap Cane Furniture delivering, and exchanging offerings that have value for customers, clients, Cheap Cane Furniture partners, and society at Cheap Cane Furniture large.".
Marketing methods are informed by many of the social sciences, particularly psychology, sociology, and economics. Anthropology is also a small, Cheap Cane Furniture but growing influence. Market Cheap Cane Furniture research underpins these activities. Through advertising, it is also related Cheap Cane Furniture to many of the creative arts. Marketing is a wide and heavily interconnected subject Cheap Cane Furniture with extensive publications. Cheap Cane Furniture It is also an area of activity Cheap Cane Furniture infamous for re-inventing itself and its vocabulary according to the times and the culture.
Many companies today have a customer focus Cheap Vegas Rooms (or customer Cheap Cane Furniture orientation). This implies that the company focuses its activities and products on consumer demands. Generally there are three ways of doing Cheap Cane Furniture this: the customer-driven approach, the sense of identifying market Cheap Cane Furniture changes and the product innovation Cheap Cane Furniture approach.
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In the consumer-driven approach, Cheap Gas Fire consumer wants are the drivers of all strategic marketing Cheap Cane Furniture decisions. No strategy is pursued until it passes the test of consumer research. Every aspect of a market offering, including the nature of the product itself, is driven by the Cheap Cane Furniture needs of potential consumers. The starting point is always the consumer. The rationale Cheap Mexico Vacations for this approach is that Cheap Cane Furniture there is no point spending R&D funds developing products that people Cheap Cane Furniture will not buy. History Cheap Cane Furniture attests to many products that were Cheap Cane Furniture commercial failures in Cheap Cane Furniture spite of being technological breakthroughs.
A formal Cheap Cane Furniture approach to Cheap Cane Furniture this Cheap Cane Furniture 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 Cheap Cane Furniture provides a demand/customer centric version alternative to the well-known 4Ps supply side model Cheap Cane Furniture (product, price, place, promotion) of marketing management.
In a product innovation approach, the company pursues product innovation, then tries to develop Cheap Cane Furniture a market for the product. Product innovation drives Cheap Cane Furniture the process and marketing research is Cheap Ringtones By Text 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 Cheap Cane Furniture to them in the future so we Cheap Cane Furniture should not expect them to tell Cheap Cane Furniture us what they will buy in Cheap Cane Furniture the future. However, marketers Cheap Cane Furniture can aggressively over-pursue product innovation and try to overcapitalize on a niche. Cheap Cane Furniture When pursuing a product innovation approach, marketers Cheap Cane Furniture must ensure Cheap Cane Furniture that they have a varied and multi-tiered approach to product innovation. Cheap Cane Furniture It is claimed that Cheap Cane Furniture if Thomas Edison depended on marketing research he would have produced larger candles rather Cheap Cane Furniture than Cheap Cane Furniture inventing light bulbs. Many firms, such as research and development focused Cheap Cane Furniture companies, successfully focus on product Cheap Cane Furniture innovation (Such as Nintendo who constantly change the way Video games Cheap Phone Screensavers are played). Many purists doubt whether this is really a form of marketing orientation at all, because of the ex post status of consumer Cheap Cane Furniture research. Some even question whether it is marketing. |
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