A market-focused, or customer-focused, organization first determines Cheap Rates Fot Car Rentals what its potential customers Cheap Rates Fot Car Rentals desire, and then builds the Cheap Rates Fot Car Rentals 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 benefit.
Two major factors of marketing are the recruitment of new customers (acquisition) and the retention and expansion of Cheap Rates Fot Car Rentals relationships with Cheap Rates Fot Car Rentals existing customers (base management). Once Cheap Rates Fot Car Rentals a marketer has converted the prospective Cheap Rates Fot Car Rentals buyer, base management marketing takes over. The process for base management shifts the marketer Cheap Rates Fot Car Rentals to building a relationship, nurturing the links, enhancing the benefits that sold the buyer in Cheap Rates Fot Car Rentals the first place, and improving the product/service continuously to protect the business from Cheap Rates Fot Car Rentals competitive encroachments.
For a marketing plan to be successful, the mix of the four "Ps" must reflect the wants and desires of the consumers Cheap Memory Foam Mattress or Shoppers in the target market. Trying to convince a market segment to Cheap Rates Fot Car Rentals buy something they don't want is extremely expensive and seldom successful. Marketers depend on insights from marketing research, both formal and informal, to determine what Cheap And Cable Tv consumers want and what they are willing to pay Cheap Rates Fot Car Rentals for. Marketers hope Cheap Ceiling Light that this process will give them a sustainable competitive advantage. Marketing management is Cheap Custom Racing Jackets the practical application of this process. The offer Cheap Rates Fot Car Rentals is also an important addition to the 4P's theory.
Within Cheap Rates Fot Car Rentals most organizations, the activities Cheap Rates Fot Car Rentals encompassed Cheap Rates Fot Car Rentals by the marketing function are led by a Cheap Rates Fot Car Rentals Vice President or Director of Marketing. A growing number of organizations, especially large US companies, have Cheap Rates Fot Car Rentals a Chief Marketing Officer position, reporting to the Chief Executive Officer.
The American Marketing Association (AMA) states, �Marketing is the Cheap Rates Fot Car Rentals 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 Cheap Rates Fot Car Rentals the social Cheap Rates Fot Car Rentals sciences, particularly psychology, sociology, and economics. Anthropology is also a small, but growing Cheap Rates Fot Car Rentals influence. Market research underpins these Cheap Rates Fot Car Rentals activities. Through advertising, it is also related to many of the creative arts. Marketing is a wide and heavily Cheap Rates Fot Car Rentals interconnected subject with extensive publications. It is also Cheap Rates Fot Car Rentals an area of activity infamous for re-inventing itself and its vocabulary according to the times and the culture.
Many companies today have Cheap Rates Fot Car Rentals a Cheap Rates Fot Car Rentals customer focus (or customer orientation). This implies that the company focuses its activities and products on consumer demands. Generally there Cheap Rates Fot Car Rentals are three ways of doing this: the customer-driven approach, the sense of identifying market changes Cheap Rates Fot Car Rentals and the product innovation approach.
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In the consumer-driven approach, consumer wants are the drivers of all strategic marketing decisions. No strategy is pursued until Cheap Rates Fot Car Rentals it passes the test of Cheap Rates Fot Car Rentals consumer research. Every Cheap Rates Fot Car Rentals aspect Cheap Rates Fot Car Rentals of a market offering, including the nature of the product itself, is driven by Cheap Rates Fot Car Rentals the needs of potential consumers. The starting point is always the consumer. The rationale for this Cheap Rates Fot Car Rentals approach is that there is no point spending R&D funds developing products Cheap Rates Fot Car Rentals that people will not buy. History attests to many products that Cheap Rates Fot Car Rentals were commercial Very Cheap Car Insurance Now failures in spite of being technological breakthroughs.
A formal approach to this customer-focused marketing is Cheap Hotels In Gainesville Florida known as SIVA[3] (Solution, Information, Value, Access). This system is basically the four Ps renamed and reworded Cheap Rates Fot Car Rentals to provide a customer focus.
The SIVA Cheap Rates Fot Car Rentals Model provides a demand/customer centric version alternative to Cheap Car Hire Bodrum Turkey the well-known Cheap Rates Fot Car Rentals 4Ps supply side model (product, Cheap Rates Fot Car Rentals price, place, promotion) of marketing management.
In a product innovation approach, the company pursues product innovation, then tries Cheap Rates Fot Car Rentals to develop a market for the product. Product innovation drives the process Cheap Rates Fot Car Rentals and Cheap Rates Fot Car Rentals marketing research is conducted primarily to ensure that a profitable market segment(s) exists for the innovation. The rationale is that customers may not Cheap Rates Fot Car Rentals know what options will be available to them in the future so we should not expect them to tell Cheap Rates Fot Car Rentals us what they will Cheap Rates Fot Car Rentals buy in the future. However, marketers can aggressively over-pursue product innovation and Cheap Rates Fot Car Rentals try to Cheap Rates Fot Car Rentals overcapitalize on a niche. When Cheap Rates Fot Car Rentals pursuing a product innovation approach, marketers must ensure that they have a varied and multi-tiered approach to Cheap Rates Fot Car Rentals product innovation. It is claimed that if Thomas Edison depended on marketing research he would have produced larger candles rather Cheap Rates Fot Car Rentals than inventing light bulbs. Many firms, such as research and development focused companies, successfully focus on product Cheap Rates Fot Car Rentals innovation (Such as Cheap Rates Fot Car Rentals Nintendo Cheap Rates Fot Car Rentals who Cheap Rates Fot Car Rentals constantly change the way Video games are played). Many purists doubt whether this is really a form of marketing orientation at all, because Cheap Rates Fot Car Rentals of the ex post status Cheap Rates Fot Car Rentals of consumer research. Some Cheap Rates Fot Car Rentals even question whether it is marketing. |
