A market-focused, or customer-focused, organization first Air Fares Cheap Flights determines what its potential customers desire, and then Air Fares Cheap Flights builds the product or service. Marketing theory and Air Fares Cheap Flights practice is justified in the belief that customers use a product or service because Air Fares Cheap Flights they have a need, or because it provides Air Fares Cheap Flights a perceived benefit.
Two major factors of marketing are the recruitment Air Fares Cheap Flights of new customers Air Fares Cheap Flights (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 Air Fares Cheap Flights process for base management shifts the marketer to building a relationship, nurturing the links, enhancing the benefits that sold the buyer in the first place, Air Fares Cheap Flights and improving the product/service continuously to protect the business from competitive encroachments.
For a marketing plan to be successful, the Air Fares Cheap Flights mix of the four "Ps" must reflect the wants and desires of the consumers or Shoppers in the target market. Trying to convince a market segment to buy something Air Fares Cheap Flights they don't want is extremely Air Fares Cheap Flights expensive and seldom Air Fares Cheap Flights successful. Marketers depend on insights from marketing research, Air Fares Cheap Flights both formal and informal, Air Fares Cheap Flights to determine what consumers want and what they are willing to pay for. Marketers hope that this process will give Air Fares Cheap Flights them a sustainable competitive advantage. Marketing management is the practical application Air Fares Cheap Flights of this process. The offer is also an important addition to 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 growing number of organizations, especially large US companies, have a Chief Air Fares Cheap Flights Marketing Officer position, reporting to the Chief Air Fares Cheap Flights Executive Officer.
The American Marketing Air Fares Cheap Flights Association (AMA) states, �Marketing Air Fares Cheap Flights is the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value Air Fares Cheap Flights for customers, clients, partners, Air Fares Cheap Flights and society at large.".
Marketing methods are informed by many Air Fares Cheap Flights of Air Fares Cheap Flights 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 of the Air Fares Cheap Flights creative arts. Marketing is a wide and Air Fares Cheap Flights heavily interconnected Air Fares Cheap Flights subject with extensive publications. Air Fares Cheap Flights It is also an area of activity infamous for re-inventing itself and its Air Fares Cheap Flights vocabulary according to the times and the culture.
Many Air Fares Cheap Flights companies today have a customer focus (or Air Fares Cheap Flights 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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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 Air Fares Cheap Flights of potential consumers. Air Fares Cheap Flights The starting point is always the consumer. The rationale for this approach is that Air Fares Cheap Flights there is Air Fares Cheap Flights no point spending R&D funds developing products Air Fares Cheap Flights that people will not buy. History attests to many products Air Fares Cheap Flights that were commercial failures in spite of being technological breakthroughs.
A formal approach to Air Fares Cheap Flights this customer-focused marketing Air Fares Cheap Flights is known as SIVA[3] (Solution, Information, Value, Air Fares Cheap Flights 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 Air Fares Cheap Flights management.
In a product innovation approach, the company pursues product innovation, then tries to develop a market for the product. Product innovation drives the process and marketing research is conducted primarily to ensure that Air Fares Cheap Flights a profitable market segment(s) exists Air Fares Cheap Flights for the innovation. The rationale is that customers may not know what options will be available Air Fares Cheap Flights to them in the future so we should not expect them to tell us what they will buy in the future. Air Fares Cheap Flights However, marketers can aggressively over-pursue product innovation and try to overcapitalize on a Air Fares Cheap Flights niche. When pursuing a Air Fares Cheap Flights product innovation Air Fares Cheap Flights approach, marketers must ensure that they Air Fares Cheap Flights have a varied and multi-tiered approach to product innovation. It Air Fares Cheap Flights is claimed Cheap Michelin Tires that if Thomas Edison depended on marketing research he would have produced larger candles Air Fares Cheap Flights rather than inventing light bulbs. Many Air Fares Cheap Flights firms, such as research and development focused companies, successfully focus on product Air Fares Cheap Flights innovation Air Fares Cheap Flights (Such as Nintendo Air Fares Cheap Flights who constantly change the way Video games are played). Many purists Air Fares Cheap Flights doubt whether this is really a Air Fares Cheap Flights form of marketing orientation Air Fares Cheap Flights at all, because of the ex post status of consumer research. Some even question whether it is marketing. |
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