A market-focused, or customer-focused, organization first determines what its potential customers desire, Mexico Vacation Cheap and then builds the product or service. Marketing theory and practice is justified in the belief Mexico Vacation Cheap that customers use a product or service because they have a need, or because it provides a perceived benefit.
Two major factors Mexico Vacation Cheap of marketing are the recruitment of new customers (acquisition) and the retention and expansion of relationships with existing customers (base management). Once Mexico Vacation Cheap a marketer has converted the Mexico Vacation Cheap prospective buyer, base management marketing takes over. The process for base management shifts the marketer to building a relationship, nurturing the links, enhancing the Mexico Vacation Cheap benefits that sold the buyer in the first Mexico Vacation Cheap place, Mexico Vacation Cheap and improving the product/service continuously to protect Mexico Vacation Cheap the business Mexico Vacation Cheap from competitive encroachments.
For a marketing plan Mexico Vacation Cheap to be successful, the mix of the four Mexico Vacation Cheap "Ps" must reflect the wants Mexico Vacation Cheap and desires of the consumers or Shoppers in the target market. Trying to convince a market segment to Mexico Vacation Cheap 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 hope that this Mexico Vacation Cheap process will Mexico Vacation Cheap give them a sustainable competitive advantage. Marketing management Mexico Vacation Cheap is the Mexico Vacation Cheap 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 Mexico Vacation Cheap by Mexico Vacation Cheap a Vice President Mexico Vacation Cheap or Director of Marketing. A growing number of organizations, especially large US Mexico Vacation Cheap companies, have a Chief Marketing Officer position, reporting to the Chief Executive Officer.
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The Mexico Vacation Cheap American Marketing Association Mexico Vacation Cheap (AMA) Mexico Vacation Cheap states, �Marketing is the Mexico Vacation Cheap activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, Video Cards Cheap and society at large.".
Marketing methods are informed by many of the social sciences, particularly psychology, sociology, Mexico Vacation Cheap and economics. Anthropology is also a small, but growing influence. Market Mexico Vacation Cheap research underpins these activities. Through Mexico Vacation Cheap advertising, it is also related to many of the creative arts. Marketing is a wide and heavily interconnected subject with extensive publications. It is also an Mexico Vacation Cheap area of activity infamous for re-inventing Mexico Vacation Cheap itself Mexico Vacation Cheap and its vocabulary according to the times and the culture.
Many companies today have a customer focus (or Mexico Vacation Cheap customer Mexico Vacation Cheap orientation). This implies Mexico Vacation Cheap that the company Mexico Vacation Cheap focuses its activities and products on consumer demands. Generally there are three ways of doing this: the customer-driven approach, Mexico Vacation Cheap the sense of identifying market changes and Mexico Vacation Cheap the Mexico Vacation Cheap 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 Mexico Vacation Cheap consumers. The starting point is always Cheap Philadelphia Flyers Hockey Jerseys the consumer. The rationale for this Cheap Vacation Packages To Mexico approach is that Mexico Vacation Cheap there Mexico Vacation Cheap is Mexico Vacation Cheap 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.
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A formal approach to this customer-focused marketing Mexico Vacation Cheap is known as SIVA[3] (Solution, Information, Value, Access). This Mexico Vacation Cheap system is basically the four Ps renamed and reworded to provide a customer focus.
The SIVA Model provides Mexico Vacation Cheap a demand/customer centric version Mexico Vacation Cheap alternative to the well-known 4Ps supply side model (product, price, place, promotion) of marketing management.
In a product Mexico Vacation Cheap innovation Mexico Vacation Cheap approach, the company pursues Mexico Vacation Cheap product Mexico Vacation Cheap innovation, then Mexico Vacation Cheap tries to develop a Mexico Vacation Cheap market for the 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 Mexico Vacation Cheap is that customers Mexico Vacation Cheap may not know what options will be Mexico Vacation Cheap available to them in the future so we should not expect them to tell us what they will buy in the future. Mexico Vacation Cheap However, marketers can aggressively 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 Mexico Vacation Cheap that if Thomas Edison depended on marketing research he would have produced larger Mexico Vacation Cheap candles rather than inventing light bulbs. Many firms, such as research and development focused companies, successfully focus on product innovation (Such as Nintendo who constantly change the way Video games are played). Many purists doubt whether this is really a form of marketing orientation at all, because of the ex post status of consumer research. Some even question whether it is marketing. |