A market-focused, or customer-focused, organization first Nexium Cheap determines what its potential customers desire, and then builds the product or service. Marketing Nexium Cheap theory and practice is justified in the belief that customers use a product or service Nexium Cheap because they have a Nexium Cheap need, or Nexium Cheap because it provides a perceived benefit.
Two major factors of marketing are the recruitment of Nexium Cheap new customers Nexium Cheap (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 Ranitidine Cheap in the first place, and improving the product/service Nexium Cheap continuously to protect the business from competitive encroachments.
For Nexium Cheap a Nexium Cheap marketing plan to be successful, the mix of the four "Ps" Nexium Cheap must Nexium Cheap reflect the wants and desires of the consumers or Shoppers in the target market. Trying Nexium Cheap to convince a Nexium Cheap market segment to buy something they don't want is extremely expensive and seldom successful. Marketers depend on insights from marketing research, both formal and informal, to determine what consumers want and what they Nexium Cheap are willing to pay for. Marketers hope that this process will give them a sustainable competitive advantage. Marketing management is the practical application of this process. The offer is also an important addition to Nexium Cheap the 4P's theory.
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Within most organizations, the activities encompassed by the marketing function are led by a Vice President or Director of Marketing. A Nexium Cheap growing number of organizations, especially large US companies, have Nexium Cheap a Nexium Cheap Chief Marketing Officer position, Nexium Cheap reporting to the Chief Executive Officer.
The American Marketing Association Nexium Cheap (AMA) states, �Marketing is the activity, set of institutions, and processes for creating, Nexium Cheap communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large.".
Marketing Nexium Cheap methods are informed by many of the social sciences, particularly psychology, sociology, and economics. Nexium Cheap Anthropology is also a small, but growing Nexium Cheap influence. Market research underpins these activities. Through advertising, it is also related to many of the creative arts. Cheap Hotel In Leeds Marketing is a wide Nexium Cheap and heavily interconnected Cheap Uk Christmas Breaks subject with extensive publications. It is also an area of Nexium Cheap activity infamous for re-inventing itself and its vocabulary according Nexium Cheap to the times and the culture.
Many companies today have a customer focus (or customer orientation). This implies that the company focuses Nexium Cheap its Nexium Cheap activities and Nexium Cheap products on consumer demands. Nexium Cheap Generally there are Nexium Cheap three ways of doing this: Nexium Cheap the customer-driven approach, the sense of identifying market changes and the product innovation approach.
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In the consumer-driven approach, consumer Nexium Cheap wants are the drivers of all strategic marketing decisions. Nexium Cheap No strategy 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 Web Hosting In Uk driven by the needs of potential consumers. The Nexium Cheap starting point Nexium Cheap is always the consumer. The rationale for this approach is that Nexium Cheap there is no point spending R&D funds developing products that people will Nexium Cheap not buy. History 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 Nexium Cheap a customer focus.
The SIVA Model provides a demand/customer centric Nexium Cheap version Nexium Cheap alternative to the well-known 4Ps supply side model (product, price, Nexium Cheap place, promotion) of marketing management.
In Nexium Cheap a product innovation approach, the company pursues product innovation, then tries to develop Nexium Cheap a market for Nexium Cheap the product. Product innovation drives the process Nexium Cheap and Nexium Cheap marketing research is Nexium Cheap conducted primarily to ensure that a profitable Nexium Cheap market segment(s) exists for the innovation. 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 Cheap Hotels Leeds Uk tell us what they will buy in the future. However, marketers can aggressively over-pursue product innovation and try to overcapitalize on a Nexium Cheap niche. When pursuing a product innovation approach, marketers must Nexium Cheap ensure that they have a varied and multi-tiered approach to product innovation. It is claimed that if Thomas Edison depended on marketing research he would Nexium Cheap have produced Nexium Cheap larger candles rather than inventing light bulbs. Many firms, such as research and development focused Nexium Cheap companies, successfully focus on product innovation (Such as Nintendo Nexium Cheap who constantly change the way Video games are played). Many purists doubt whether this is Nexium Cheap really Nexium Cheap a form of marketing orientation at all, because of the ex post status of consumer research. Some even question whether it is marketing. |
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