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