A market-focused, or customer-focused, organization first determines what its potential customers Cheap Sdram desire, and then builds the product or service. Marketing theory and practice is justified in the belief that customers Cheap Chain Link Fence Slats Inserts use Cheap Sdram a product or Cheap Sdram service because they have a Cheap Sdram need, or because it provides a perceived benefit.
Two major factors of marketing are the recruitment of Cheap Sdram new customers (acquisition) and the retention Cheap Sdram and expansion of relationships with existing Cheap Sdram customers (base management). Once a Cheap Sdram marketer has converted the prospective buyer, base management Cheap Sdram 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 the first place, and improving the product/service continuously to protect the business from competitive encroachments.
For a marketing plan to be Cheap Sdram successful, Cheap Sdram the mix of the four Cheap Sdram "Ps" must reflect the wants and desires of the consumers or Shoppers in the Cheap Sdram target market. Cheap Sdram Trying to Cheap Sdram convince a market segment to buy Cheap Sdram something they don't want is extremely expensive and seldom successful. Marketers depend Cheap Sdram on insights from marketing research, both formal and informal, Cheap Sdram to determine what consumers Cheap Sdram want and what they are willing to pay for. Marketers hope that this process will give them a sustainable competitive advantage. Marketing management is Cheap Tickets Flights the practical application of this process. The offer is also an important addition to the 4P's theory.
Within most organizations, Cheap Sdram the activities encompassed by the marketing function are led by a Vice President or Cheap Sdram Director of Marketing. Cheap Sdram A growing number Cheap Sdram of organizations, especially large US companies, have a Chief Marketing Officer position, reporting to Cheap Sdram the Chief Executive Officer.
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The American Marketing Cheap Sdram Association (AMA) states, �Marketing is the Cheap Sdram activity, set of institutions, and Cheap Sdram 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 social sciences, particularly psychology, sociology, and economics. Anthropology is Cheap Sdram also a small, but growing influence. Market research underpins Cheap Sdram these Cheap Sdram activities. Through advertising, it is also related Cheap Sdram to many Cheap Sdram of the creative arts. Marketing is a wide and heavily interconnected subject with extensive publications. It is also an area of activity infamous for re-inventing itself Cheap Sdram and its Cheap Sdram vocabulary Cheap Sdram according to Cheap Sdram 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 Cheap Sdram on consumer demands. Generally there are three ways of doing this: the customer-driven approach, the sense of Cheap Sdram identifying market changes and Cheap Sdram the product innovation approach.
In the consumer-driven approach, consumer wants are the drivers of all strategic Cheap Sdram marketing decisions. No strategy is pursued until it passes the Cheap Sdram test of consumer research. Every aspect of Cheap Sdram a market offering, including the nature of the product itself, is driven by the needs of potential consumers. The starting point is Cheap Sdram always the consumer. The rationale for this approach is that there is no point spending R&D funds developing products that people will not buy. History attests to many products that were commercial failures in spite of Cheap Sdram being technological breakthroughs.
A Cheap Sdram formal Cheap Sdram approach to this customer-focused Midtown Ga Cheap Food 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.
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The SIVA Model provides a demand/customer centric version alternative to Cheap Sdram the well-known 4Ps supply side model (product, price, place, Cheap Sdram promotion) of marketing management.
In a product innovation approach, the company pursues product innovation, then Cheap Sdram tries to Disney World Cheap Trips develop a market for the Cheap Sdram product. Product innovation drives the process Cheap Sdram and marketing research is conducted primarily Cheap Sdram to ensure Cheap Sdram that a profitable market segment(s) exists for the innovation. The Cheap Sdram rationale is that customers may 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 Cheap Sdram they have a varied and multi-tiered Cheap Sdram approach to product Cheap Sdram innovation. It is claimed that if Thomas Edison depended on marketing research he would have produced Cheap Lap Top Italy larger candles rather than inventing light bulbs. Many firms, such as research and development focused companies, successfully Cheap Sdram focus on product innovation (Such as Nintendo who constantly change the way Video games are played). Many purists doubt whether this is really a form of marketing orientation Cheap Sdram at all, because of the ex post status of consumer research. Some even question whether it is marketing. |
