| A market-focused, or customer-focused, organization first determines what its Cadillac Cheap Tires potential customers desire, Cadillac Cheap Tires and then builds the product or service. Cadillac Cheap Tires Marketing theory and practice is justified in the belief that customers use Cadillac Cheap Tires 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 Cadillac Cheap Tires (acquisition) and the retention and expansion of relationships with existing customers (base management). Once Cadillac Cheap Tires a Cadillac Cheap Tires 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 Cadillac Cheap Tires that sold the buyer in the 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 Cadillac Cheap Tires reflect the wants and desires of Cadillac Cheap Tires the consumers or Shoppers in the Cadillac Cheap Tires 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 Cadillac Cheap Tires research, both 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 sustainable competitive advantage. Marketing management is the practical application of this process. The offer is also Cadillac Cheap Tires an important addition to the 4P's theory.
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Within most organizations, the 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, Cadillac Cheap Tires reporting to the Chief Executive Officer.
The American Marketing Association (AMA) states, Cadillac Cheap Tires �Marketing is the activity, 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 informed by many of the Cadillac Cheap Tires social sciences, particularly psychology, Cadillac Cheap Tires sociology, and economics. Cadillac Cheap Tires Anthropology is also a small, Cadillac Cheap Tires but growing influence. Market research underpins these activities. Through advertising, it Cadillac Cheap Tires is also related Cadillac Cheap Tires to many of the creative arts. Marketing is Cadillac Cheap Tires a wide and Cadillac Cheap Tires heavily interconnected subject with extensive publications. It is also an area of activity infamous for re-inventing Cadillac Cheap Tires itself and its vocabulary according to the times and the culture.
Many companies today have Cadillac Cheap Tires a customer focus (or Cadillac Cheap Tires customer orientation). This implies that the company focuses its Cadillac Cheap Tires activities and products Cadillac Cheap Tires on consumer demands. Generally there are three ways of doing this: the customer-driven approach, the sense of identifying market changes and the product innovation approach.
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In the consumer-driven approach, consumer wants are the drivers of all strategic marketing Cadillac Cheap Tires decisions. No strategy is pursued until it Cadillac Cheap Tires passes the Cadillac Cheap Tires test of consumer research. Every aspect of a Cadillac Cheap Tires market offering, including the nature of the product itself, is driven Cadillac Cheap Tires by the needs Cadillac Cheap Tires of Cadillac Cheap Tires potential consumers. The starting point is always the consumer. The rationale Cadillac Cheap Tires for this approach is that there is no point spending R&D funds developing products that people will Cadillac Cheap Tires not buy. History Cadillac Cheap Tires attests to Cadillac Cheap Tires many products that were commercial Cadillac Cheap Tires failures in spite of being technological breakthroughs.
A formal approach to this customer-focused marketing is known as SIVA[3] (Solution, Information, Value, Access). This system is basically the four Ps Cadillac Cheap Tires renamed and reworded Cadillac Cheap Tires to provide a customer focus.
The SIVA Model provides a demand/customer centric version alternative to the well-known 4Ps Cadillac Cheap Tires supply side model (product, price, Cadillac Cheap Tires place, promotion) Cadillac Cheap Tires of marketing management.
In a product innovation approach, the company pursues product innovation, then Cadillac Cheap Tires tries Cadillac Cheap Tires to develop a market 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 Cadillac Cheap Tires 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. Cadillac Cheap Tires However, marketers can Cadillac Cheap Tires aggressively over-pursue product innovation and try to Cadillac Cheap Tires overcapitalize on a niche. Cadillac Cheap Tires When pursuing a product innovation approach, marketers must ensure Cadillac Cheap Tires that they have a varied and multi-tiered approach to product innovation. It is claimed Cadillac Cheap Tires that if Thomas Edison depended on marketing research he would have produced Cadillac Cheap Tires larger candles rather than inventing light bulbs. Many firms, such as Cadillac Cheap Tires research and development focused companies, successfully focus on product innovation (Such as Cadillac Cheap Tires Nintendo who constantly change the way Video games are played). Many purists doubt whether this is really a Cadillac Cheap Tires form of marketing orientation at all, because of the ex post status of consumer research. Some even question Cadillac Cheap Tires whether it is marketing. |
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