A market-focused, or Cheap Prada Handbags customer-focused, organization first determines what its potential Cheap Prada Handbags customers desire, and then builds the product Cheap Prada Handbags or service. Marketing theory and practice is justified Cheap Prada Handbags in the belief that customers use a product or service because they have a Cheap Prada Handbags need, or because it provides a perceived benefit.
Two major factors Cheap Prada Handbags of marketing are the recruitment of new customers (acquisition) and the retention and expansion of relationships with existing customers (base management). Once a marketer has converted the prospective buyer, base management marketing takes over. The process for base management shifts Cheap Prada Handbags the marketer to building 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 plan to be successful, the Cheap Prada Handbags mix of Cheap Prada Handbags the four "Ps" must reflect the wants and desires of the consumers Cheap Prada Handbags or Shoppers in the Cheap Flights To Paris Maldives target market. Cheap Prada Handbags Trying to convince a market segment to buy something they don't want is extremely expensive Cheap Prada Handbags and Cheap Prada Handbags seldom successful. Marketers depend on insights from marketing research, both formal and informal, to determine what consumers Cheap Prada Handbags want Cheap Prada Handbags and what they are willing Cheap Prada Handbags 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 Cheap Prada Handbags offer is Cheap Prada Handbags also an important addition to Cheap Prada Handbags the 4P's Cheap Prada Handbags theory.
Within most organizations, the activities encompassed by Cheap Prada Handbags the marketing function are led by a Vice President Cheap Prada Handbags or Director of Marketing. A Cheap Prada Handbags growing Cheap Prada Handbags number of organizations, especially large US companies, Cheap Prada Handbags have a Chief Marketing Officer Cheap Prada Handbags position, reporting to the Chief Executive Officer.
The American Marketing Association (AMA) states, �Marketing is the activity, set of institutions, and Cheap Prada Handbags processes for Nickle Cadium Aa Batteries Cheap creating, Cheap Prada Handbags communicating, delivering, and Cheap Prada Handbags exchanging Cheap Prada Handbags offerings that have value for customers, clients, Cheap Loan Personal Secured partners, and society at large.".
Marketing methods are informed by many of the social sciences, particularly psychology, sociology, and economics. Anthropology is Cheap Prada Handbags also a small, but growing influence. Market 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 Prada Handbags activity 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 Prada Handbags demands. Generally there are three ways of doing this: the customer-driven approach, the sense of identifying Cheap Prada Handbags market changes and the Cheap Prada Handbags product Cheap Prada Handbags innovation Cheap Prada Handbags approach.
In the consumer-driven approach, consumer wants are the drivers of all strategic marketing decisions. No strategy is pursued until it passes Cheap Prada Handbags the test of consumer research. Every aspect Cheap Prada Handbags of a market Cheap Prada Handbags offering, including the nature of the product itself, is driven by the needs of potential consumers. The starting point is always the consumer. The rationale for this Cheap Prada Handbags approach is that there is no point spending Cheap Prada Handbags R&D funds developing products that people will not buy. History attests to many products that were commercial failures in spite of being technological breakthroughs.
A formal Cheap Prada Handbags approach to this customer-focused marketing is known as SIVA[3] (Solution, Information, Value, Access). This system is basically the four Cheap Prada Handbags Ps renamed and reworded to provide a customer focus.
The SIVA Model provides a demand/customer centric Cheap Prada Handbags version alternative to the well-known 4Ps supply side model (product, price, place, promotion) of marketing management.
In a product innovation approach, Cheap Prada Handbags the company pursues product innovation, then tries to develop Cheap Prada Handbags a market for the product. Product innovation Cheap Prada Handbags drives the process Cheap Prada Handbags and marketing research is conducted primarily to ensure that a profitable market segment(s) exists for Cheap Prada Handbags the innovation. The rationale is that customers may not know Cheap Prada Handbags what options will be Cheap Prada Handbags 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, Cheap Prada Handbags marketers must ensure that they have a varied and multi-tiered approach to product innovation. It is claimed Cheap Prada Handbags that if Thomas Edison depended on marketing research he would have produced larger candles rather than inventing light bulbs. Many firms, such as research Cheap Prada Handbags and development Cheap Prada Handbags 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 Cheap Prada Handbags form of marketing orientation at all, Cheap Prada Handbags because of the ex post Cheap Prada Handbags status of consumer research. Some even question whether it is marketing. |
