A market-focused, or customer-focused, organization Cheap Used Guitars 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 major factors of marketing are the recruitment of new customers (acquisition) and the retention and expansion Cheap Used Guitars of relationships with existing Cheap Used Guitars customers (base management). Once a marketer has converted the prospective Cheap Used Guitars buyer, Cheap Used Guitars base management marketing takes over. The process for base management shifts the marketer to building a relationship, nurturing the links, enhancing the benefits that Buy Cheap Cheap Straw Hat sold the buyer in the first place, Cheap Used Guitars and improving the product/service continuously to protect the business from competitive encroachments.
For a marketing plan Cheap Used Guitars to be successful, Cheap Used Guitars the mix of the Cheap Used Guitars four "Ps" must reflect the wants and desires of the consumers or Cheap Used Guitars Shoppers in the target market. Trying to convince a market Cheap Used Guitars segment to buy something they don't want is extremely expensive and seldom successful. Marketers depend on insights from marketing research, both formal and Cheap Used Guitars informal, to determine what consumers want and what they are willing to pay for. Cheap Used Guitars Marketers hope that this process will give them a sustainable Cheap Used Guitars competitive advantage. Marketing management is the practical Cheap Used Guitars application of this process. The offer is also an important addition to Cheap Used Guitars the 4P's theory.
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Within most organizations, the Cheap Used Guitars activities encompassed by the marketing function are led by a Vice President or Director of Marketing. A growing number of organizations, Cheap Used Guitars especially 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 Cheap Used Guitars value for customers, clients, partners, and society at large.".
Marketing methods are informed by many of the Cheap Used Guitars social sciences, particularly psychology, sociology, and economics. Anthropology is Cheap Used Guitars also a small, but growing influence. Market research underpins these activities. Through advertising, it Cheap Used Guitars is also related to many of the creative arts. Marketing is a wide and heavily interconnected subject with extensive publications. It is Cheap Used Guitars also an area of activity infamous for re-inventing itself and its vocabulary according to the times Cheap Used Guitars and the culture.
Many companies today have a customer Cheap Used Guitars focus (or customer orientation). This implies that the company focuses its activities and products Cheap Used Guitars on consumer demands. Generally there are three ways of doing this: the customer-driven approach, the sense Cheap Used Guitars of identifying market changes and the product innovation approach.
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In the consumer-driven approach, consumer wants are the drivers of Cheap Car Hire Israel all strategic marketing Cheap Used Guitars decisions. No strategy is pursued Cheap Used Guitars until it passes the Cheap Used Guitars test of consumer research. Every aspect of a market offering, including the nature of the product itself, Cheap Used Guitars is Cheap Used Guitars driven by the needs Cheap Used Guitars of potential consumers. The starting point is always the consumer. The Cheap Used Guitars rationale for this approach is Cheap Used Guitars that there is no point Cheap Used Guitars spending R&D funds developing products that people will not buy. History attests to many products Cheap Used Guitars that were commercial failures in spite of being technological breakthroughs.
A formal approach to this customer-focused marketing is Cheap Used Guitars 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 provides a demand/customer Cheap Used Guitars centric version alternative to the well-known 4Ps supply side model (product, price, place, promotion) of marketing management.
In Cheap Used Guitars a product innovation approach, the company pursues product innovation, then tries to develop Cheap Used Guitars a Cheap Used Guitars market Cheap Used Guitars for the Cheap Used Guitars product. Product innovation drives the process and marketing research is conducted primarily Cheap Used Guitars to Cheap Used Guitars ensure that a profitable market Cheap Used Guitars segment(s) exists for the innovation. The rationale is that customers may not know what options will be available to them in the future so we Cheap Used Guitars should not expect them Cheap Used Guitars to tell us what they will buy in the future. However, marketers Cheap Used Guitars can aggressively over-pursue Cheap Used Guitars product innovation and try to overcapitalize Cheap Used Guitars on a niche. Cheap Used Guitars When Cheap Used Guitars 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 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 Cheap Used Guitars way Video games are played). Many Cheap Used Guitars purists doubt whether this is really a Cheap Used Guitars form of marketing orientation at all, Cheap Used Guitars because of the ex post status Cheap Used Guitars of consumer research. Some even question whether it is marketing. |
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