A market-focused, or customer-focused, organization Cheap Weekly Hotel Rates Hollywood first determines what its Cheap Weekly Hotel Rates Hollywood potential customers desire, and then builds the product or service. Marketing theory and practice is justified in the belief Cheap Weekly Hotel Rates Hollywood that customers use a product or service because they have a need, or because it Cheap Weekly Hotel Rates Hollywood provides a perceived benefit.
Two Cheap Weekly Hotel Rates Hollywood major 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, 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 the buyer in the first place, and improving the product/service continuously to protect the business from Cheap Weekly Hotel Rates Hollywood competitive encroachments.
For a marketing plan to be successful, the mix of the Cheap Weekly Hotel Rates Hollywood four "Ps" must reflect the wants and desires of the consumers or Shoppers in Cheap Weekly Hotel Rates Hollywood the target Cheap Weekly Hotel Rates Hollywood market. Trying to Cheap Weekly Hotel Rates Hollywood convince a Cheap Weekly Hotel Rates Hollywood market segment to buy something they don't want is extremely expensive and seldom successful. Marketers depend on Cheap Weekly Hotel Rates Hollywood insights 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 give them a sustainable competitive Cheap Weekly Hotel Rates Hollywood advantage. Marketing management is the practical application of this process. The offer is Cheap Weekly Hotel Rates Hollywood also an important addition to the 4P's theory.
Within most organizations, the activities encompassed by the marketing function Cheap Weekly Hotel Rates Hollywood are led by a Vice President or Director Cheap Weekly Hotel Rates Hollywood of Cheap Weekly Hotel Rates Hollywood Marketing. A growing number of organizations, Cheap Weekly Hotel Rates Hollywood especially large US companies, have a Chief Cheap Weekly Hotel Rates Hollywood Marketing Officer position, reporting to the Chief Executive Officer.
The American Marketing Association (AMA) states, �Marketing is the activity, Cheap Weekly Hotel Rates Hollywood set of Cheap Weekly Hotel Rates Hollywood institutions, and processes for creating, communicating, delivering, and Cheap Weekly Hotel Rates Hollywood exchanging offerings that have value for customers, clients, partners, and society at large.".
Marketing Cheap Weekly Hotel Rates Hollywood methods are 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 Cheap Weekly Hotel Rates Hollywood related to many of the creative arts. Marketing is Cheap Weekly Hotel Rates Hollywood a wide and Cheap Weekly Hotel Rates Hollywood heavily Cheap Weekly Hotel Rates Hollywood interconnected Cheap Weekly Hotel Rates Hollywood subject with extensive publications. It is also an area of Cheap Weekly Hotel Rates Hollywood activity infamous for re-inventing itself Cheap Weekly Hotel Rates Hollywood and its vocabulary according to the times Cheap Weekly Hotel Rates Hollywood and the culture.
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In the consumer-driven approach, consumer wants are the drivers of all strategic marketing decisions. No strategy Cheap Weekly Hotel Rates Hollywood is pursued until it passes the test of consumer research. Cheap Weekly Hotel Rates Hollywood Every aspect of a market offering, including the nature of the product Cheap Weekly Hotel Rates Hollywood itself, is driven by the needs of Cheap Weekly Hotel Rates Hollywood potential consumers. The starting point is always the consumer. The rationale for this approach is that there is no point spending R&D funds developing products Cheap Weekly Hotel Rates Hollywood that people will not buy. History attests to many products that were commercial Cheap Weekly Hotel Rates Hollywood failures in spite of being technological breakthroughs.
A formal approach to this customer-focused marketing is known Cheap Weekly Hotel Rates Hollywood as SIVA[3] (Solution, Cheap Weekly Hotel Rates Hollywood Information, Value, Access). This system is basically the Cheap Weekly Hotel Rates Hollywood four Ps renamed and reworded to provide a customer focus.
The SIVA Model provides a demand/customer centric version alternative to the Cheap Weekly Hotel Rates Hollywood well-known 4Ps supply Cheap Weekly Hotel Rates Hollywood side model (product, price, place, promotion) of marketing management.
In a product innovation approach, the company pursues product innovation, then tries to develop a Cheap Weekly Hotel Rates Hollywood market for the product. Product innovation drives the process and marketing research is conducted primarily to ensure that Cheap Weekly Hotel Rates Hollywood a profitable market segment(s) exists for Cheap Weekly Hotel Rates Hollywood the innovation. The rationale is that customers may not know what options will be Cheap Weekly Hotel Rates Hollywood available to them in the future so we should not expect them Cheap Weekly Hotel Rates Hollywood to tell us what they will buy in Cheap Weekly Hotel Rates Hollywood the future. However, marketers can aggressively over-pursue product innovation and try to Buy Cheap Longboards overcapitalize on a niche. When pursuing a Cheap Weekly Hotel Rates Hollywood product innovation approach, marketers must ensure that they have a varied and multi-tiered approach to product innovation. It is Cheap Weekly Hotel Rates Hollywood Cheap Air Travel Tickets claimed that if Thomas Edison depended on marketing Cheap Weekly Hotel Rates Hollywood research Cheap Weekly Hotel Rates Hollywood he would have Cheap Weekly Hotel Rates Hollywood produced larger candles rather than inventing light Cheap Weekly Hotel Rates Hollywood bulbs. Many firms, such as research and development focused companies, successfully focus on product innovation (Such as Nintendo who constantly change Cheap Weekly Hotel Rates Hollywood the way Video games are played). Many purists doubt 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. |
