A market-focused, Cheap Biker Jewelry or customer-focused, Cheap Biker Jewelry organization first determines what its Cheap Biker Jewelry potential customers desire, and then builds the product or service. Marketing theory and practice is justified in the belief that customers Cheap Biker Jewelry use Cheap Biker Jewelry a product Cheap Biker Jewelry or service because they have a need, or because Cheap Biker Jewelry it provides a perceived benefit.
Two major factors of Cheap Biker Jewelry marketing are the recruitment of new customers (acquisition) Cheap Biker Jewelry and Cheap Biker Jewelry the retention Cheap Biker Jewelry and Cheap Biker Jewelry expansion of relationships with existing Cheap Biker Jewelry customers (base management). Once a marketer has converted the prospective buyer, base management marketing takes over. The process for base management shifts the marketer to building a relationship, nurturing the links, enhancing the benefits that sold Cheap Biker Jewelry the buyer in the first place, and improving the product/service continuously to protect the business from competitive encroachments.
For a marketing Cheap Biker Jewelry plan to be successful, the mix of the four "Ps" Cheap Biker Jewelry must reflect the wants and desires of the consumers or Shoppers in the target market. Trying to convince a market segment to buy Cheap Biker Jewelry something they don't want Cheap Biker Jewelry is extremely expensive and seldom successful. Marketers depend on insights from marketing research, both formal and informal, to determine what consumers want and what they are willing to pay for. Marketers hope Cheap Biker Jewelry that this process will give them a sustainable competitive advantage. Cheap Biker Jewelry Marketing management is the practical application of this process. The offer is also an important addition to the 4P's theory.
Within most organizations, the activities encompassed by Cheap Biker Jewelry the Cheap Biker Jewelry marketing function are led by a Vice President or Director of Marketing. Cheap Biker Jewelry A growing Cheap Biker Jewelry number of organizations, especially large US companies, have a Cheap Biker Jewelry Chief Marketing Officer position, reporting to the Chief Executive Officer.
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The American Marketing Association (AMA) states, �Marketing is the activity, set of institutions, and processes Cheap Biker Jewelry for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large.".
Marketing methods are informed by many of the social Cheap Biker Jewelry sciences, particularly Cheap Biker Jewelry psychology, sociology, and Cheap Biker Jewelry economics. Anthropology Cheap Biker Jewelry is also a small, but growing influence. Market research underpins these Cheap Biker Jewelry activities. Through advertising, it is also Cheap Biker Jewelry related to many of the creative arts. Marketing is a wide and heavily interconnected subject with extensive Cheap Biker Jewelry publications. It is also an Cheap Biker Jewelry area of activity Cheap Biker Jewelry infamous for re-inventing itself and its vocabulary according to 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 Cheap Biker Jewelry consumer demands. Generally there are three ways of doing this: the customer-driven approach, the sense of identifying market changes Cheap Biker Jewelry and the product innovation approach.
In 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 Cheap Biker Jewelry the product itself, is driven by the needs of potential consumers. The starting point is always the consumer. The rationale for this approach is Cheap Biker Jewelry that there is no point spending R&D Cheap Biker Jewelry funds developing products that people will not buy. History attests to Cheap Biker Jewelry many products that were commercial failures in spite of being technological Cheap Biker Jewelry breakthroughs.
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A formal approach to this customer-focused marketing is known as SIVA[3] (Solution, Cheap Biker Jewelry Information, Value, Access). This system is basically the four Ps renamed and Cheap Biker Jewelry reworded to provide a customer focus.
The SIVA Model provides Cheap Biker Jewelry a demand/customer centric version alternative to the well-known 4Ps supply side model (product, price, place, promotion) Cheap Biker Jewelry of marketing management.
In a product innovation approach, the company pursues Cheap Biker Jewelry product innovation, then tries to develop Cheap Biker Jewelry a market Cheap Biker Jewelry for the product. Cheap Biker Jewelry Product innovation drives the process and marketing Cheap Biker Jewelry research Cheap Biker Jewelry is conducted primarily to ensure Cheap Biker Jewelry that a profitable market segment(s) exists for the innovation. The rationale is that Cheap Biker Jewelry customers may not know what options will be available to them in the future so we should not expect them to tell us what they will Cheap Biker Jewelry 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 Cheap Biker Jewelry approach to product innovation. It is claimed Cheap Biker Jewelry that if Thomas Edison depended on marketing research he would have produced larger candles rather than inventing light bulbs. Cheap Biker Jewelry Many firms, such Cheap Biker Jewelry as research and development focused companies, successfully focus 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 at all, because of the ex post status of consumer research. Some even question whether it is marketing. |
