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 Bag Book Cheap School the belief that customers use a product or service because they have a need, or because it provides Bag Book Cheap School a perceived Bag Book Cheap School benefit.
Two major factors of marketing are the recruitment of Bag Book Cheap School new customers (acquisition) and the retention and expansion Bag Book Cheap School of relationships with existing customers (base management). Once a marketer has converted the prospective buyer, base management marketing takes Bag Book Cheap School over. The Bag Book Cheap School process for Bag Book Cheap School base management shifts the marketer Bag Book Cheap School to building a relationship, nurturing the links, enhancing the benefits that Bag Book Cheap School sold the buyer in the first place, and improving the product/service continuously to protect Bag Book Cheap School the business from competitive encroachments.
For a marketing plan to be Cheap Discount Airline Ticket Discount Travel successful, the mix of Bag Book Cheap School the four "Ps" must reflect the wants and desires of the consumers or Shoppers in the target market. Bag Book Cheap School Trying to convince a market segment to buy something they don't want is extremely expensive and seldom successful. Marketers depend on Bag Book Cheap School insights from marketing research, both formal and informal, to determine what consumers want and what they are Bag Book Cheap School willing to pay for. Marketers hope that this process will Bag Book Cheap School give them a sustainable competitive advantage. Marketing management is the practical application of this process. The offer is also an Bag Book Cheap School important addition to the 4P's theory.
Within Bag Book Cheap School most organizations, the Bag Book Cheap School activities encompassed by the marketing function are led by 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, Buy Cheap Discount Pergo Flooring �Marketing is the Bag Book Cheap School activity, Bag Book Cheap School set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large.".
Marketing methods are Bag Book Cheap School informed by many of the social sciences, particularly psychology, sociology, and economics. Anthropology is also a small, but growing influence. Market research Bag Book Cheap School underpins these activities. Through Bag Book Cheap School advertising, it is also related to many of the creative arts. Marketing is a wide and heavily interconnected subject with 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 Bag Book Cheap School today have a customer focus (or customer orientation). This implies that the Bag Book Cheap School company Bag Book Cheap School focuses its activities Bag Book Cheap School and products on consumer demands. Generally there are three ways Bag Book Cheap School of doing this: the customer-driven approach, the sense of identifying Bag Book Cheap School market changes and Bag Book Cheap School the product Cheap Flights Usa Late Bookings innovation approach.
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In Bag Book Cheap School the consumer-driven approach, consumer wants are the drivers of all strategic marketing decisions. No strategy is pursued until it passes the test of consumer research. Every aspect of a market offering, including the nature of Bag Book Cheap School the product itself, is driven by the needs of potential consumers. Bag Book Cheap School The starting point is always the consumer. The rationale for this approach is that there is no point Bag Book Cheap School spending R&D funds developing products that people will Bag Book Cheap School 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 Bag Book Cheap School Discount Cruise Cheap is known as SIVA[3] (Solution, Information, Bag Book Cheap School Value, Access). This Bag Book Cheap School system is basically the four Ps Bag Book Cheap School renamed and reworded to provide a customer focus.
The SIVA Model provides a demand/customer centric version alternative to the well-known 4Ps supply Bag Book Cheap School side model (product, price, place, promotion) of marketing management.
In a product innovation approach, the company pursues product innovation, then tries to develop a market for the product. Product innovation drives the process Bag Book Cheap School and marketing research is Bag Book Cheap School conducted primarily Bag Book Cheap School to ensure that a profitable market segment(s) exists for Bag Book Cheap School the Bag Book Cheap School 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 Bag Book Cheap School tell us what they will buy in the future. However, marketers can aggressively over-pursue Bag Book Cheap School product innovation and try to overcapitalize on a niche. Bag Book Cheap School When pursuing a product innovation approach, marketers must ensure that they Bag Book Cheap School have Bag Book Cheap School a varied and Bag Book Cheap School multi-tiered approach to product innovation. It is Bag Book Cheap School claimed that if Thomas Edison depended on marketing research he would Bag Book Cheap School have produced larger candles rather than inventing light bulbs. Many firms, such Bag Book Cheap School as research Bag Book Cheap School and development focused companies, successfully focus Bag Book Cheap School 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 Bag Book Cheap School at all, because of the Bag Book Cheap School ex post status of consumer research. Some even question whether it is marketing. |
