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Two 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 Student Airfare Cheap Travel marketer has converted the prospective buyer, base management marketing Student Airfare Cheap Travel takes over. The Student Airfare Cheap Travel process for base Cheap Auto Insurance Indiana management shifts the marketer to building a Student Airfare Cheap Travel relationship, nurturing Student Airfare Cheap Travel the links, enhancing the benefits that sold Student Airfare Cheap Travel the buyer in the first place, Student Airfare Cheap Travel 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 the wants and desires Student Airfare Cheap Travel of the consumers or Shoppers in Student Airfare Cheap Travel the target market. Trying to convince Student Airfare Cheap Travel a market segment to buy something Student Airfare Cheap Travel they don't want is Student Airfare Cheap Travel extremely expensive and seldom successful. Marketers depend on insights from marketing research, both formal and informal, Student Airfare Cheap Travel to determine what consumers want and what they are Student Airfare Cheap Travel willing to pay for. Marketers hope that this process will give them a sustainable Student Airfare Cheap Travel competitive Student Airfare Cheap Travel advantage. Marketing management is the practical application of Student Airfare Cheap Travel this process. The Student Airfare Cheap Travel offer 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 Student Airfare Cheap Travel Director Student Airfare Cheap Travel of Student Airfare Cheap Travel Marketing. A growing Student Airfare Cheap Travel number of organizations, especially large US companies, have a Student Airfare Cheap Travel Chief Marketing Officer position, reporting to the Chief Executive Student Airfare Cheap Travel Officer.
The American Marketing Association (AMA) states, �Marketing is the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large.".
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Many companies today have a Student Airfare Cheap Travel customer focus (or customer orientation). This implies that 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 and the product innovation approach.
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The SIVA Model provides a demand/customer centric version alternative to the well-known 4Ps supply side model (product, price, place, Student Airfare Cheap Travel promotion) of marketing management.
In a product innovation Student Airfare Cheap Travel approach, Student Airfare Cheap Travel the company pursues product innovation, then tries to develop a market for Student Airfare Cheap Travel the product. Product innovation drives the process and Student Airfare Cheap Travel marketing research is conducted Student Airfare Cheap Travel primarily to ensure Student Airfare Cheap Travel that a profitable market segment(s) exists for the innovation. The rationale is that customers may not Student Airfare Cheap Travel know what options will be available to them in the future so we should not expect Student Airfare Cheap Travel them to tell us what they will buy in the future. However, marketers can aggressively over-pursue Student Airfare Cheap Travel 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 approach to product innovation. It is claimed that if Student Airfare Cheap Travel Thomas Edison depended on marketing research he would have produced larger candles rather than inventing light bulbs. Many firms, such as Student Airfare Cheap Travel research and development focused companies, successfully focus on product innovation (Such as Nintendo Student Airfare Cheap Travel who constantly change the way Video games Student Airfare Cheap Travel 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 Student Airfare Cheap Travel whether Find Cheap Hotels In New York it is marketing. |
