A market-focused, or customer-focused, organization first determines what its potential customers Long Island Cheap Oil Prices desire, and then builds the Long Island Cheap Oil Prices 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 Long Island Cheap Oil Prices marketing are Cheap Blank Sashes the recruitment of new customers (acquisition) and the retention and expansion of relationships with existing customers (base management). Once a marketer has converted Long Island Cheap Oil Prices the prospective buyer, base management marketing takes over. The process for base management shifts the marketer to building a relationship, nurturing the links, Clic Cars For Sale Cheap enhancing Long Island Cheap Oil Prices the benefits that sold Long Island Cheap Oil Prices the Cheap Electronics From Japan buyer in Long Island Cheap Oil Prices the first place, and improving the product/service continuously to protect the business from competitive encroachments.
For a marketing plan to Long Island Cheap Oil Prices be successful, the mix of 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 Long Island Cheap Oil Prices buy something they don't want is extremely expensive and seldom Long Island Cheap Oil Prices successful. Marketers depend on insights from marketing research, both formal and informal, to Long Island Cheap Oil Prices determine what consumers want and what they are willing to Long Island Cheap Oil Prices pay for. Marketers hope Long Island Cheap Oil Prices that this Long Island Cheap Oil Prices process will give them a sustainable competitive advantage. Marketing Long Island Cheap Oil Prices management is the practical application of this process. Long Island Cheap Oil Prices The offer is also an Long Island Cheap Oil Prices important addition to Long Island Cheap Oil Prices the 4P's theory.
Within most organizations, the activities encompassed by the marketing function are led Long Island Cheap Oil Prices by a Vice President or Director of Marketing. A growing number of organizations, especially large US companies, have a Chief Marketing Officer Long Island Cheap Oil Prices position, reporting to the Chief Executive Officer.
The American Marketing Association (AMA) states, �Marketing Long Island Cheap Oil Prices is the activity, set of Long Island Cheap Oil Prices institutions, and processes for creating, communicating, delivering, Long Island Cheap Oil Prices and exchanging Long Island Cheap Oil Prices offerings that have value for customers, clients, partners, and society at large.".
Marketing methods are informed by many of Long Island Cheap Oil Prices the social sciences, particularly psychology, sociology, and economics. Anthropology is also a small, but growing influence. Long Island Cheap Oil Prices 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 Long Island Cheap Oil Prices with extensive Long Island Cheap Oil Prices publications. It is also an area of activity Long Island Cheap Oil Prices infamous for Long Island Cheap Oil Prices 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 Long Island Cheap Oil Prices and products on consumer demands. Generally there are three ways of doing this: the customer-driven approach, the Long Island Cheap Oil Prices sense of identifying market changes and the product Long Island Cheap Oil Prices innovation approach.
In the Long Island Cheap Oil Prices consumer-driven Long Island Cheap Oil Prices approach, consumer Long Island Cheap Oil Prices wants are the drivers of all strategic marketing decisions. No strategy is pursued until it passes the test of consumer research. Every aspect of a market Pigeon Forge Cheap Hotels offering, including the nature of the product itself, is driven by the needs of potential consumers. The Battery Cheap Dell Laptop Portable Computer starting point Long Island Cheap Oil Prices is always the consumer. The rationale for this approach is that there is no point spending R&D Long Island Cheap Oil Prices funds developing products that people will Long Island Cheap Oil Prices not buy. History attests to many products that were commercial failures in spite of being technological breakthroughs.
A formal approach Long Island Cheap Oil Prices to this customer-focused 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.
The SIVA Model provides a demand/customer centric version alternative to the well-known 4Ps supply Cheap Holtel side model (product, price, place, promotion) of marketing management.
In a product innovation approach, the Long Island Cheap Oil Prices company pursues Long Island Cheap Oil Prices product innovation, then tries to Long Island Cheap Oil Prices develop a market for the product. Product innovation Cheap Race Tires drives Long Island Cheap Oil Prices Cheap Tires Audi the process and marketing research is conducted primarily Long Island Cheap Oil Prices to ensure that a profitable market Long Island Cheap Oil Prices segment(s) exists for Long Island Cheap Oil Prices the innovation. The rationale is that customers may not know what Long Island Cheap Oil Prices options will be Long Island Cheap Oil Prices available to them in the future so we should not expect them Cheap Off Road Jeep Tires to tell us what they will buy in the future. However, Cheap Priced Tires marketers can aggressively over-pursue Long Island Cheap Oil Prices product innovation and try to overcapitalize on Long Island Cheap Oil Prices Ottawa Cheap Tires a niche. When pursuing a product innovation approach, marketers must ensure that they have a varied and multi-tiered approach to product innovation. It is claimed that if Thomas Edison depended on Long Island Cheap Oil Prices marketing research he would have produced larger candles rather than inventing light bulbs. Many firms, Long Island Cheap Oil Prices such Long Island Cheap Oil Prices as research and development focused companies, successfully focus on product Long Island Cheap Oil Prices innovation (Such as Long Island Cheap Oil Prices Nintendo Long Island Cheap Oil Prices who constantly change the way Long Island Cheap Oil Prices Video games are played). Many purists doubt whether this is Long Island Cheap Oil Prices really a form of marketing orientation at all, because of the ex post status of consumer research. Some even question whether it is marketing. |
