A market-focused, or customer-focused, organization first determines what its potential customers desire, and then builds the product or service. Marketing theory and Cheap Cake Decorating Supplies practice is justified in the belief that customers use a product or service because they have a need, Cheap Cake Decorating Supplies or because it provides a perceived benefit.
Two major factors Cheap Cake Decorating Supplies of marketing are the recruitment of new customers (acquisition) and the retention Cheap Dry Sink and Cheap Cake Decorating Supplies expansion of relationships with existing customers (base management). Once a marketer has converted the prospective buyer, base Cheap Cake Decorating Supplies management marketing takes Cheap Cake Decorating Supplies over. The process for base management shifts the marketer to building a relationship, nurturing the links, enhancing the benefits that Cheap Cake Decorating Supplies sold the buyer in Cheap Cake Decorating Supplies the first place, and improving the product/service continuously to protect the business from competitive encroachments.
For a marketing plan Cheap Cake Decorating Supplies to be successful, the mix Cheap Cake Decorating Supplies of the four "Ps" must Cheap Cake Decorating Supplies reflect the wants Cheap Flights Pittsburgh Orlando and desires of the consumers or Shoppers in the target market. Trying to convince a market segment to buy something they don't want is extremely Cheap Cake Decorating Supplies expensive and seldom successful. Marketers depend on Cheap Cake Decorating Supplies insights from Cheap Cake Decorating Supplies marketing research, both formal and informal, to determine Cheap Cake Decorating Supplies what Cheap Cake Decorating Supplies consumers want and what they 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 Cheap Cake Decorating Supplies offer is also an Cheap Cake Decorating Supplies important Cheap Cake Decorating Supplies addition to the 4P's theory.
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, Cheap Cake Decorating Supplies especially large US companies, have a Chief Marketing Officer position, reporting to the Chief Cheap Cake Decorating Supplies Executive Officer.
The American Marketing Association Cheap Nissan Maxima (AMA) states, Cheap Cake Decorating Supplies �Marketing Cheap Cake Decorating Supplies is the activity, set of institutions, and Cheap Cake Decorating Supplies processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and Cheap Cake Decorating Supplies society at large.".
Marketing methods are informed by many of the Cheap Cake Decorating Supplies social sciences, Cheap Cake Decorating Supplies 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 creative arts. Marketing is a wide and heavily interconnected subject with extensive publications. It is also an area of activity infamous for re-inventing itself and its vocabulary according to the times and the culture.
Many companies today have a customer focus (or customer orientation). This implies that the company focuses its activities and products Cheap Cake Decorating Supplies on consumer demands. Generally there are three ways of doing this: the customer-driven Cheap Cake Decorating Supplies approach, the sense of identifying market changes and the Cheap Cake Decorating Supplies product innovation approach.
|
In the consumer-driven approach, consumer wants are the drivers of all strategic marketing Cheap Cake Decorating Supplies decisions. No strategy is pursued until it passes the test of Cheap Cake Decorating Supplies consumer research. Every aspect of a market offering, including the nature of the product itself, is driven by the needs of potential consumers. Cheap Cake Decorating Supplies The starting Cheap Cake Decorating Supplies point is Cheap Cake Decorating Supplies always the consumer. The Cheap Health Insurance Life rationale for this approach is that there is no point spending R&D funds Cheap Cake Decorating Supplies developing Cheap Cake Decorating Supplies products that people will not buy. History attests to Cheap Cake Decorating Supplies many products that were commercial failures in Cheap Cake Decorating Supplies spite Cheap Cake Decorating Supplies of being Cheap Cake Decorating Supplies technological breakthroughs.
A formal approach to this customer-focused marketing Cheap Trips To Reno 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 4Ps supply side model (product, price, place, promotion) Cheap Cake Decorating Supplies of marketing management.
In Cheap Cake Decorating Supplies a product innovation approach, the company pursues product innovation, then tries to develop a market for the product. Product Cheap Cake Decorating Supplies innovation drives the Cheap Cake Decorating Supplies process and marketing research is conducted Cheap Cake Decorating Supplies primarily to Cheap Cake Decorating Supplies ensure Cheap Cake Decorating Supplies that a profitable market segment(s) exists for the innovation. The rationale is that customers Cheap Cake Decorating Supplies may not know what options will be available to them in the future Cheap Cake Decorating Supplies so we should not expect them to tell us Cheap Cake Decorating Supplies what they will buy in the future. Cheap Cake Decorating Supplies However, marketers can aggressively over-pursue product innovation and try to overcapitalize on a niche. When pursuing a product innovation Cheap Cake Decorating Supplies approach, marketers must ensure that they have Cheap Cake Decorating Supplies a varied Cheap Cake Decorating Supplies and Universl Orlando Tickets For Cheap multi-tiered approach Cheap Cake Decorating Supplies to product innovation. It is claimed that if Thomas Edison depended on marketing research he would have produced larger candles rather than inventing light bulbs. Many firms, such as research and development focused companies, successfully focus on product innovation (Such as Nintendo who Cheap Cake Decorating Supplies constantly change the way Video games are played). Cheap Cake Decorating Supplies Many purists doubt whether this is really a form of marketing orientation at all, because of the ex post Cheap Cake Decorating Supplies status of consumer research. Some even question whether it is marketing. |