A market-focused, or Cheap Europe Flights Student customer-focused, organization first determines what its potential customers desire, Cheap Europe Flights Student and 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 provides a perceived Cheap Airline Flights To Florida 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). Once a marketer Cheap Europe Flights Student has converted the prospective Cheap Europe Flights Student buyer, base management marketing takes over. The process Cheap Europe Flights Student for base management Cheap Manhattan Hotel New York Htm shifts the marketer to building a relationship, nurturing the Cheap Europe Flights Student links, enhancing the benefits that sold the Cheap Europe Flights Student buyer in the first place, and improving the product/service continuously to Cheap Europe Flights Student protect the business from competitive encroachments.
For a Cheap Europe Flights Student marketing plan to be successful, the mix of the four "Ps" must reflect the wants and desires of Cheap Europe Flights Student the consumers Cheap Europe Flights Student or Shoppers in the target market. Trying to convince a market segment to buy something they don't want is Cheap Europe Flights Student extremely expensive and seldom successful. Cheap Europe Flights Student Marketers Cheap Europe Flights Student depend on insights from marketing research, both formal and informal, to determine what Cheap Europe Flights Student consumers want and what they are willing to pay for. Marketers hope that Cheap Europe Flights Student this process will give them a sustainable Cheap Europe Flights Student competitive Cheap Europe Flights Student advantage. Marketing Cheap Europe Flights Student management is the practical application of this process. The offer is also an important addition to the 4P's theory.
Within most Cheap Europe Flights Student organizations, the activities encompassed by the marketing function are Cheap Europe Flights Student led by a Vice President or Director of Marketing. A growing number of organizations, especially large Cheap Europe Flights Student US companies, have a Chief Marketing Officer position, reporting to the Chief Executive Officer.
The American Marketing Association (AMA) states, �Marketing is the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, Cheap Europe Flights Student and society at large.".
Marketing methods are informed by many of the social sciences, particularly psychology, sociology, and economics. Anthropology is Cheap Europe Flights Student also a small, but growing influence. Market Cheap Europe Flights Student research underpins these activities. Through 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 Cheap Europe Flights Student activity infamous for re-inventing itself and its vocabulary according to the times and the culture.
Many companies Cheap Europe Flights Student Cheap Roman Blind today Cheap Europe Flights Student have a customer focus (or customer orientation). This implies that the company focuses its activities and products on consumer Cheap Europe Flights Student demands. Generally there are three ways of doing this: the customer-driven approach, the sense of identifying market changes and the product innovation approach.
In the consumer-driven approach, Cheap Europe Flights Student consumer wants are the drivers of all strategic marketing decisions. No strategy is pursued until it passes the test of consumer Cheap Europe Flights Student research. Every aspect of a market offering, including the nature of the product itself, is driven by Cheap Europe Flights Student the Cheap Europe Flights Student needs of Cheap Europe Flights Student potential consumers. The starting point is always Cheap Europe Flights Student the consumer. The rationale for this approach is that there is no point spending R&D Cheap Europe Flights Student funds developing products that people will not buy. History attests to many products that were commercial failures in spite of being Cheap Europe Flights Student technological breakthroughs.
A formal Cheap Europe Flights Student approach to this customer-focused marketing is known Cheap Europe Flights Student as SIVA[3] (Solution, Information, Value, Access). This system Cheap Europe Flights Student is basically the four Ps renamed and reworded to Cheap Europe Flights Student provide a customer focus.
The SIVA Model provides a demand/customer centric version alternative to the well-known 4Ps supply side model Cheap Europe Flights Student (product, Cheap Europe Flights Student price, place, Cheap Europe Flights Student promotion) of marketing management.
In Cheap Europe Flights Student a product innovation approach, the company Cheap Europe Flights Student pursues Cheap Europe Flights Student product innovation, then tries to develop a market for the product. Product innovation drives the process and marketing research is Cheap Europe Flights Student conducted primarily to ensure that a profitable market segment(s) exists Cheap Europe Flights Student for the innovation. The rationale is that customers may Cheap Europe Flights Student not know what options will be available to Cheap Europe Flights Student them in the future so Cheap Europe Flights Student we should not expect them to tell us Cheap Macrame Projects what they will buy in the Cheap Europe Flights Student future. However, marketers can aggressively Cheap Europe Flights Student over-pursue product innovation and try to overcapitalize on a niche. When pursuing a product innovation Cheap Europe Flights Student approach, marketers must ensure Cheap Europe Flights Student that they 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. Many firms, such as research and Cheap Europe Flights Student development focused companies, successfully focus on product innovation (Such as Nintendo who constantly change the way Video games Cheap Europe Flights Student are played). Many purists doubt whether this is really a form of marketing orientation at all, because of the ex Cheap Europe Flights Student post status of consumer research. Some even question whether it is marketing. |
