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