A market-focused, or customer-focused, organization first determines what its potential customers desire, and then builds the product or service. Marketing theory and practice is justified in the belief that Cheap Camcorders customers use Cheap Camcorders a product Cheap Camcorders or service because they have a need, or because it provides a perceived benefit.
Two major Cheap Camcorders factors of marketing are the recruitment of new customers (acquisition) and the retention and expansion of relationships with existing customers (base management). Once a marketer has converted the prospective buyer, Cheap Camcorders base management marketing takes over. The process for base management shifts the marketer to building a relationship, nurturing the links, enhancing the benefits that sold Cheap Camcorders 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 successful, the mix of the four "Ps" must reflect Cheap Camcorders the wants and desires of the consumers or Shoppers in the target market. Trying to convince a market segment to buy something they don't want is Cheap Camcorders extremely expensive and seldom successful. Marketers depend on insights Cheap Camcorders from marketing research, both formal and informal, to determine what consumers want and what they are willing to pay for. Marketers hope that this process will Cheap Camcorders give them a sustainable competitive advantage. Cheap Camcorders Marketing management is the practical Cheap Camcorders application of this process. Cheap Camcorders The offer is also Cheap Camcorders an important addition Cheap Camcorders to the 4P's theory.
Within most Cheap Camcorders organizations, the activities encompassed by the marketing function Cheap Camcorders are Cheap Camcorders led by a Vice President or Director of Marketing. A growing number of organizations, especially large US companies, Cheap Camcorders have a Cheap Camcorders Chief Cheap Camcorders Marketing Officer position, reporting to the Chief Executive Officer.
The American Marketing Association (AMA) states, �Marketing is Cheap Camcorders the Cheap Camcorders activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, Cheap Camcorders clients, partners, and society at large.".
Marketing methods Cheap Camcorders are informed Cheap Phentermine Online by many of the social Cheap Camcorders sciences, particularly psychology, sociology, and economics. Anthropology is also Cheap Camcorders a small, but growing influence. Market research underpins these activities. Through advertising, it Cheap Camcorders is also related to many 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 and its vocabulary Cheap Camcorders according to the times and the culture.
Many companies today have a customer focus (or customer orientation). This implies that Cheap Camcorders the 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 Cheap Camcorders and the product innovation approach.
In the consumer-driven approach, consumer wants are Cheap Camcorders the drivers of all strategic marketing decisions. No strategy Cheap Camcorders is pursued until it passes the test of consumer research. Every aspect of a market offering, including the nature of the product itself, is Cheap Camcorders driven by the needs of potential Cheap Camcorders consumers. The starting point is always the consumer. Cheap Camcorders The rationale for Cheap Camcorders this approach is that there is no point spending Cheap Camcorders R&D funds developing products that Cheap Camcorders people will not buy. History Cheap Camcorders attests to many 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, Value, Access). This system is basically the four Ps renamed and reworded to provide a customer focus.
The SIVA Model provides a Cheap Camcorders demand/customer Cheap Camcorders centric version alternative to the well-known 4Ps supply side model (product, price, place, promotion) Cheap Camcorders of marketing management.
In a product innovation approach, the company pursues product innovation, then tries to develop a market for the product. Product innovation drives the process and marketing research is conducted primarily to Cheap Camcorders ensure that a profitable market segment(s) exists for the innovation. The rationale is that customers Cheap Camcorders may not Cheap Camcorders know what options will be available to them in the Cheap Camcorders future so we should not expect them to tell Cheap Camcorders us what they will buy in the future. However, marketers can aggressively over-pursue Cheap Camcorders product innovation Cheap Camcorders and try to overcapitalize on a niche. When pursuing Cheap Camcorders 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 Cheap Camcorders Edison depended on marketing research Cheap Camcorders he would have Cheap Camcorders produced larger candles rather Cheap Camcorders than inventing light bulbs. Many firms, such as research and development focused Cheap Camcorders companies, successfully 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 Cheap Camcorders orientation Cheap Camcorders at all, because of the ex post status of consumer research. Some even question Cheap Camcorders whether it is marketing. |
