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