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