A market-focused, or Cheap Hotels Rome 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 Cheap Hotels Rome belief that customers Cheap Hotels Rome use a product or service Cheap Hotels Rome because they have a need, or because it provides a Cheap Hotels Rome perceived benefit.
Two major factors of marketing are the recruitment of new customers (acquisition) and the retention and Cheap Hotels Rome expansion of relationships with existing Cheap Hotels Rome customers (base management). Once a marketer has converted Cheap Hotels Rome the prospective Cheap Hotels Rome buyer, base management marketing takes over. The process for base management shifts the marketer to building Cheap Hotels Rome a relationship, nurturing the links, Cheap Hotels Rome enhancing the benefits that sold the buyer in the first place, and Cheap Hotels Rome 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. Trying to convince a market segment to buy something they don't want Cheap Hotels Rome is extremely Cheap Hotels Rome expensive and seldom successful. Marketers depend on insights from marketing research, both formal and Cheap Hotels Rome informal, to determine Airline Tickets Cheap Last Minute what consumers want and what they are willing to pay for. Marketers hope that this process will Cheap Hotels Rome give them a sustainable competitive advantage. Marketing management is the Cheap Hotels Rome practical application of this process. The offer is also Cheap Hotels Rome an important addition to the 4P's Cheap Books Online theory.
Within most organizations, the Cheap Hotels Rome activities encompassed by Cheap Hotels Rome the marketing Cheap Hotels Rome function are Cheap Hotels Rome led by a Vice President or Director of Marketing. A growing number of organizations, especially large US companies, have a Chief Marketing Officer Cheap Hotels Rome position, reporting to the Chief Executive Officer.
The American Marketing Cheap Hotels Rome Association (AMA) states, �Marketing is the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, Cheap Hotels Rome clients, partners, and Cheap Hotels Rome society at large.".
Marketing Cheap Hotels Rome methods are informed by many of the social sciences, particularly psychology, sociology, and economics. Anthropology is also a small, but growing Cheap Hotels Rome influence. Market research underpins these activities. Through advertising, it is also related to many of Cheap Discount Cigarettes the creative arts. Marketing is a wide and heavily Cheap Hotels Rome interconnected subject with extensive publications. It is also an area of activity Cheap Hotels Rome infamous for re-inventing itself and its vocabulary according to the times and the culture.
Many Cheap Hotels Rome companies Cheap Hotels Rome today have a customer focus (or customer orientation). This implies that the company focuses its activities Cheap Hotels Rome and products on consumer demands. Generally there are three ways of doing this: the customer-driven Cheap Hotels Rome approach, Cheap Hotels Rome the sense of identifying market changes and the product innovation approach.
In the consumer-driven approach, consumer wants are the drivers of Cheap Duvet Covers all strategic marketing decisions. No strategy is pursued until it passes the test of Cheap Hotels Rome consumer research. Every aspect of a market Cheap Hotels Rome offering, Cheap Hotels Rome including the nature of the product itself, is driven by the needs of potential consumers. The starting Cheap Hols point is always the consumer. The rationale for Cheap Hotels Rome this approach is that there is no point spending R&D funds developing Cheap Hotels Rome products that people will not buy. History attests to many products that were Cheap Hotels Rome commercial failures in spite Cheap Hotels Rome 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 Cheap Hotels Rome Ps Cheap Hotels Rome renamed and Cheap Hotels Rome reworded to provide a Cheap Hotels Rome customer focus.
The SIVA Model provides a demand/customer centric Cheap Hotels Rome version alternative to the well-known 4Ps supply side model (product, price, place, promotion) of Cheap Portable Mp3 Player marketing management.
In a product innovation approach, the company pursues product innovation, then tries to develop a market for the product. Product Cheap Hotels Rome innovation drives the process and marketing research is conducted primarily to ensure that a Cheap Hotels Rome profitable market segment(s) Cheap Hotels Rome 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 Cheap Hotels Rome tell us what they will buy in the future. However, marketers can aggressively over-pursue product innovation and try to overcapitalize on a niche. Cheap Hotels Rome When pursuing a product innovation approach, marketers must ensure that they have a varied and Cheap Hotels Rome 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 Cheap Hotels Rome on product innovation (Such as Nintendo who constantly change the way Video games are played). Many purists doubt whether this is really a form of marketing orientation Cheap Hotels Rome at all, because of the Cheap Hotels Rome ex post Cheap Hotels Rome status of consumer research. Some even question Cheap Hotels Rome whether it Cheap Hotels Rome is marketing. |
