A market-focused, or Shop Cheap customer-focused, organization first determines what Shop Cheap its potential customers desire, and then builds the product or service. Marketing theory and Shop Cheap practice is Shop Cheap justified in the belief that Shop Cheap customers use a product Shop Cheap or service because they have a need, or because it provides a perceived benefit.
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 marketer Shop Cheap has converted the prospective buyer, base management marketing takes Shop Cheap over. The process for Shop Cheap base management shifts the marketer to Shop Cheap building a relationship, nurturing the links, Shop Cheap enhancing the benefits that sold 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, Shop Cheap the mix of the four Shop Cheap "Ps" must reflect the wants and desires of the consumers or Shoppers Shop Cheap in the target market. Trying to convince a market segment Shop Cheap to buy something they don't want is extremely expensive and seldom successful. Marketers depend on insights from marketing research, Shop Cheap both formal and informal, to determine what Shop Cheap consumers want and what they are West Jet Cheap Seats willing to pay for. Marketers hope that this process will give them Shop Cheap a sustainable competitive advantage. Marketing management is the practical application of this process. The offer is Shop Cheap also Shop Cheap an important addition to the 4P's theory.
Within most organizations, the activities encompassed by Shop Cheap the marketing function are led by a Vice President or Director of Marketing. A growing number of organizations, especially large US companies, have a Chief Marketing Officer position, Shop Cheap reporting to the Chief Executive Officer.
The American Shop Cheap Marketing Shop Cheap Association (AMA) states, �Marketing is the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have Shop Cheap value for customers, clients, partners, and society at large.".
Marketing Shop Cheap methods Shop Cheap are Shop Cheap informed by many of the social sciences, Cheap Clear Glass Coffee Table Uk particularly psychology, sociology, Shop Cheap and economics. Anthropology is also a small, but growing influence. Market research underpins these activities. Through advertising, it is also related to many of the creative arts. Marketing is Shop Cheap a wide and heavily interconnected subject with Shop Cheap extensive publications. It is also an area of activity infamous for re-inventing itself and its vocabulary according to Shop Cheap the times and the Shop Cheap culture.
Many companies today have a customer focus (or customer orientation). This implies that the company focuses its activities and products on consumer Shop Cheap demands. Shop Cheap Generally there are three ways of Shop Cheap doing this: the customer-driven approach, Shop Cheap the sense of identifying Shop Cheap market changes and the product innovation approach.
|
In the consumer-driven Shop Cheap approach, consumer wants are the drivers of all strategic Shop Cheap marketing decisions. No strategy is pursued until it passes the test of consumer research. Every aspect of a market offering, including the nature of the Shop Cheap product itself, is driven by the needs of potential Shop Cheap consumers. The starting point Shop Cheap is always the consumer. The rationale for this Shop Cheap approach is that there is no point spending R&D funds developing products that people will not buy. History attests to many products that were commercial failures in spite of being technological breakthroughs.
A formal approach to Shop Cheap this customer-focused Shop Cheap marketing is known as SIVA[3] (Solution, Information, Value, Access). This system is basically the four Ps Cheap Tires In Los Banos renamed and reworded to provide a customer focus.
The Shop Cheap SIVA Model provides a demand/customer centric version alternative to Shop Cheap the well-known 4Ps supply side model (product, price, place, promotion) of marketing management.
In a product innovation approach, the company pursues product innovation, then tries to develop Shop Cheap a market for the product. Product innovation Shop Cheap drives the process and marketing research is conducted primarily to ensure that a profitable market segment(s) exists for Cheap Flights From Uk To Dubai the Shop Cheap innovation. Shop Cheap The rationale is that customers may not know what options will be available to them in the future so we should not expect them to tell us what they will buy in the future. However, marketers can aggressively Shop Cheap over-pursue 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 Shop Cheap Thomas Edison depended on marketing research he would have produced larger candles rather than inventing Cheap Wireless Spy Cams light bulbs. Many firms, such as Shop Cheap research Shop Cheap and development focused companies, successfully focus on product innovation Cheap Ethernet Cables (Such Shop Cheap as Nintendo who constantly change the Calling United States Cheap way Video games are played). Many purists doubt Shop Cheap whether this is really a form of marketing orientation at all, because of the ex post status of Shop Cheap consumer research. Some even question whether it is marketing. |
