A market-focused, or customer-focused, organization first determines what its potential customers desire, and then builds the product Hong Kong Cheap Hotel or service. Marketing theory and practice is Hong Kong Cheap Hotel justified in the belief that Hong Kong Cheap Hotel customers use a product or service because they have a need, or because it provides a perceived benefit.
Two major factors of marketing are Hong Kong Cheap Hotel the recruitment of new customers (acquisition) and Hong Kong Cheap Hotel the retention and expansion of relationships with existing customers (base management). Once a marketer has converted the Hong Kong Cheap Hotel prospective buyer, base management marketing takes over. The process for Cheap Flights Frok Sydney To Uk base management shifts the marketer to building a relationship, nurturing the links, enhancing the benefits that sold the buyer in the first place, Hong Kong Cheap Hotel 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" Hotels Cheap Berlin must reflect the wants and desires of the consumers or Shoppers in the target market. Trying to convince a market segment Hong Kong Cheap Hotel to buy something they don't want Hong Kong Cheap Hotel is extremely expensive and Hong Kong Cheap Hotel seldom successful. Marketers depend on insights from Hong Kong Cheap Hotel marketing research, both formal and informal, to determine Hong Kong Cheap Hotel what consumers want and what they are willing to pay for. Hong Kong Cheap Hotel Marketers hope that this process will give them a Hong Kong Cheap Hotel sustainable competitive advantage. Marketing management Hong Kong Cheap Hotel is the practical application of this process. The 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 Cheap Air Fare Cancun Mexico or Director Hong Kong Cheap Hotel of Marketing. A growing number of organizations, especially large US companies, Hong Kong Cheap Hotel have a Chief Marketing Officer position, reporting to the Chief Hong Kong Cheap Hotel Executive Officer.
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The Hong Kong Cheap Hotel American Marketing Hong Kong Cheap Hotel 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.".
Marketing 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 related to many Hong Kong Cheap Hotel of the creative arts. Marketing is a wide and heavily interconnected subject Hong Kong Cheap Hotel with extensive publications. It Hong Kong Cheap Hotel is also an Repo Houses Cars Cheap area Hong Kong Cheap Hotel of activity Hong Kong Cheap Hotel infamous for Hong Kong Cheap Hotel re-inventing itself and its vocabulary according to the Hong Kong Cheap Hotel times and the culture.
Many companies today have a customer Hong Kong Cheap Hotel focus (or customer orientation). This implies that the company focuses its activities and products on consumer demands. Hong Kong Cheap Hotel Generally Hong Kong Cheap Hotel there are three ways of doing this: the customer-driven approach, the sense of identifying market changes Hong Kong Cheap Hotel and the Hong Kong Cheap Hotel product innovation Hong Kong Cheap Hotel approach.
In the Hong Kong Cheap Hotel consumer-driven approach, Hong Kong Cheap Hotel consumer wants are the drivers of all strategic marketing decisions. No strategy is pursued until it passes the test of consumer research. Hong Kong Cheap Hotel Every aspect of a market Hong Kong Cheap Hotel offering, including the nature of Hong Kong Cheap Hotel the product itself, is driven by the needs Hong Kong Cheap Hotel of potential consumers. The starting point Hong Kong Cheap Hotel is always the consumer. The rationale for this approach is that there is no point spending R&D funds developing products that people will not buy. History attests to many Hong Kong Cheap Hotel products that were commercial failures in spite of being technological breakthroughs.
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A formal approach to this customer-focused marketing is known as SIVA[3] (Solution, Hong Kong Cheap Hotel 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 side model (product, price, place, promotion) of marketing management.
In a product Hong Kong Cheap Hotel innovation approach, Hong Kong Cheap Hotel the company pursues product innovation, then tries Hong Kong Cheap Hotel to develop a market for the Hong Kong Cheap Hotel product. Product innovation drives the process and marketing research is conducted primarily to ensure that a profitable market segment(s) exists for the innovation. The rationale is that customers may not know what options will Hong Kong Cheap Hotel be available to them in the future so we should not Hong Kong Cheap Hotel expect them to tell us what they Hong Kong Cheap Hotel Cheap Sony Alpha will buy in the future. However, marketers Hong Kong Cheap Hotel can aggressively over-pursue product Hong Kong Cheap Hotel innovation and try to overcapitalize on a niche. When pursuing a product innovation approach, marketers must ensure that they Hong Kong Cheap Hotel have a varied and multi-tiered Hong Kong Cheap Hotel approach to product innovation. It Hong Kong Cheap Hotel is claimed that if Thomas Edison depended on marketing research he would have produced Hong Kong Cheap Hotel larger candles rather than inventing light bulbs. Many firms, such Hong Kong Cheap Hotel as research and development focused companies, successfully focus on product innovation (Such as Nintendo Hong Kong Cheap Hotel who constantly change the way Video games Hong Kong Cheap Hotel are played). Many purists doubt whether this is really a Hong Kong Cheap Hotel form of marketing orientation at all, because of the ex post status of consumer research. Some even question whether it is marketing. |
