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