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For a marketing plan to Ranitidine Cheap be successful, the mix of the four "Ps" must reflect the wants and desires of the Ranitidine Cheap consumers or Shoppers in the target market. Trying to convince a 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 are willing to pay for. Marketers Ranitidine Cheap hope Ranitidine Cheap that this process will Ranitidine Cheap give Ranitidine Cheap them a sustainable competitive Ranitidine Cheap advantage. Marketing management is the practical application of this process. The Ranitidine Cheap 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 Ranitidine Cheap President or Director of Marketing. A growing number of organizations, especially large US companies, have a Chief Marketing Officer position, reporting Ranitidine Cheap to the Chief Executive Officer.
The American Marketing Association (AMA) states, �Marketing is Ranitidine Cheap the activity, set of institutions, and processes for creating, Ranitidine Cheap communicating, delivering, and exchanging offerings that have Ranitidine Cheap 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 Ranitidine Cheap is also related to many of the creative arts. Marketing is a wide and heavily interconnected subject with extensive publications. It is also an area of activity infamous for re-inventing Ranitidine Cheap itself and its vocabulary according to the times and Ranitidine Cheap the culture.
Many companies today have a customer focus (or customer Ranitidine Cheap orientation). This implies that the company focuses its activities and products on consumer Ranitidine Cheap demands. Generally there are three ways of doing this: the customer-driven approach, the Ranitidine Cheap sense of identifying market changes Ranitidine Cheap and the product innovation approach.
In the consumer-driven approach, consumer wants are the drivers of all strategic 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 product itself, is driven by the needs of potential consumers. The starting point is always the consumer. The rationale for Ranitidine Cheap this approach is that there is no point spending Ranitidine Cheap R&D funds developing products that people will not buy. History attests to many products that were commercial Ranitidine Cheap failures in spite of being technological breakthroughs.
A formal approach Ranitidine Cheap to Ranitidine Cheap 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 a customer focus.
The SIVA Model provides a demand/customer centric version alternative to the well-known Ranitidine Cheap 4Ps Ranitidine Cheap supply side model (product, price, place, promotion) Ranitidine Cheap of marketing management.
In a product innovation approach, the company pursues product innovation, then tries to develop a market for the product. Product Ranitidine Cheap innovation drives the process Ranitidine Cheap and marketing Ranitidine Cheap research is conducted primarily Ranitidine Cheap to ensure that a profitable 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 tell us what they will buy in the future. However, marketers can aggressively over-pursue product innovation and try to overcapitalize on a niche. When pursuing a product innovation approach, Ranitidine Cheap marketers must ensure that they have a Ranitidine Cheap varied and multi-tiered approach to Ranitidine Cheap product innovation. It is claimed that if Thomas Edison depended on Ranitidine Cheap marketing research he would have produced larger Ranitidine Cheap candles rather than inventing light bulbs. Many firms, such as research and development focused Ranitidine Cheap companies, successfully focus on product innovation (Such as Nintendo who constantly Ranitidine Cheap change the way Video games are played). Many purists doubt Ranitidine Cheap whether this is really a Ranitidine Cheap form of Ranitidine Cheap marketing orientation Ranitidine Cheap at all, because of the ex post status Ranitidine Cheap of consumer research. Some even question whether Ranitidine Cheap it is marketing. |