A market-focused, or customer-focused, organization first determines what its potential customers Cheap Flights Usa Late Bookings desire, and Cheap Flights Usa Late Bookings 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 Flights Usa Late Bookings provides a Cheap Flights Usa Late Bookings perceived benefit.
Two major factors of marketing are the recruitment of new customers (acquisition) and the retention and expansion of relationships with existing customers Cheap Flights Usa Late Bookings (base management). Once a marketer has converted the prospective buyer, base Cheap Flights Usa Late Bookings management marketing takes over. The process for base management Cheap Flights Usa Late Bookings shifts the marketer to building a relationship, nurturing the links, enhancing the benefits that sold the Cheap Flights Usa Late Bookings buyer in the first place, and improving the product/service continuously to protect the business from competitive encroachments.
For a marketing plan Cheap Flights Usa Late Bookings to be successful, the mix of the four "Ps" must Cheap Flights Usa Late Bookings reflect the wants and desires of the consumers or Shoppers in the target market. Trying to convince Cheap Flights Usa Late Bookings a market segment to buy something they don't want is extremely expensive Cheap Flights Usa Late Bookings and seldom successful. Marketers depend on insights from marketing research, both formal and informal, to determine Cheap Flights Usa Late Bookings what consumers want Cheap Flights Usa Late Bookings and what they are willing to pay for. Marketers hope Cheap Flights Usa Late Bookings that this process will give them a sustainable competitive advantage. Marketing management is the practical application of this process. Cheap Flights Usa Late Bookings The offer is also an important Cheap Flights Usa Late Bookings 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 Cheap Flights Usa Late Bookings of organizations, especially large US companies, have Cheap Flights Usa Late Bookings a Chief Marketing Officer position, reporting to the Chief Executive Officer.
The American Marketing Association (AMA) states, �Marketing is the Cheap Flights Usa Late Bookings activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that Cheap Flights Usa Late Bookings have value for customers, clients, partners, and society at large.".
Marketing methods are informed by many Cheap Flights Usa Late Bookings of the social sciences, particularly psychology, sociology, and economics. Anthropology Cheap Flights Usa Late Bookings 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 Cheap Flights Usa Late Bookings interconnected subject Cheap Flights Usa Late Bookings with Cheap Flights Usa Late Bookings extensive publications. It is also an area of activity infamous for re-inventing itself and its vocabulary according to the times and the culture.
Many companies today have a customer focus (or customer Cheap Flights Usa Late Bookings orientation). This implies that the company focuses its activities and products on consumer demands. Generally there are three ways of doing this: the Cheap Flights Usa Late Bookings customer-driven approach, Cheap Flights Usa Late Bookings the sense Cheap Flights Usa Late Bookings of Cheap Flights Usa Late Bookings identifying market Cheap Flights Usa Late Bookings changes Cheap Flights Usa Late Bookings and the product innovation approach.
In the consumer-driven approach, consumer wants are the drivers of all strategic marketing decisions. No strategy is pursued Cheap Flights Usa Late Bookings until it Cheap Flights Usa Late Bookings passes the Cheap Flights Usa Late Bookings test of consumer research. Every 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 Cheap Flights Usa Late Bookings consumer. The rationale for this approach is that there is no point spending R&D funds Cheap Flights Usa Late Bookings developing products that people will not buy. History attests to many products that were commercial failures in spite of being technological breakthroughs.
A formal approach to this customer-focused marketing is known Cheap Flights Usa Late Bookings 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 to Cheap Flights Usa Late Bookings the well-known 4Ps supply side model (product, price, place, promotion) of marketing management.
In a product innovation approach, Cheap Flights Usa Late Bookings the company pursues product innovation, then tries to develop a market for the product. Product innovation drives the process and marketing Cheap Flights Usa Late Bookings research is conducted primarily to ensure that Cheap Flights Usa Late Bookings a profitable market Cheap Flights Usa Late Bookings segment(s) exists for the innovation. The rationale is that customers may not Cheap Flights Usa Late Bookings know what options will be available to them in the future so Cheap Flights Usa Late Bookings we Cheap Flights Usa Late Bookings should Cheap Discount Airline Ticket Discount Travel not Cheap Flights Usa Late Bookings expect Cheap Flights Usa Late Bookings them to tell us what they will buy in the future. However, Cheap Flights Usa Late Bookings marketers can aggressively over-pursue product innovation Cheap Flights Usa Late Bookings and try to overcapitalize on a niche. When pursuing a Cheap Flights Usa Late Bookings product innovation approach, marketers Cheap Flights Usa Late Bookings must ensure that they have a varied Cheap Flights Usa Late Bookings and multi-tiered approach to product innovation. It is claimed that if Thomas Edison depended Cheap Flights Usa Late Bookings on Cheap Flights Usa Late Bookings marketing research he would have produced larger candles rather than inventing light bulbs. Many firms, Cheap Flights Usa Late Bookings such as research and development focused companies, successfully focus on product innovation (Such as Nintendo who constantly change the way Buy Cheap Discount Pergo Flooring Video games Cheap Flights Usa Late Bookings are played). 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 Cheap Flights Usa Late Bookings question whether it is marketing. |
