A market-focused, or customer-focused, organization first determines what its Cheap Textbooks potential customers desire, and then builds the product or Cheap Textbooks service. Marketing theory and practice is justified in the belief that customers use a product Cheap Car Rentals or service because they have a need, Cheap Textbooks or because it provides a perceived benefit.
Two major factors of marketing are the recruitment of new customers (acquisition) and the retention and expansion of relationships Cheap Textbooks with existing customers Cheap Textbooks (base management). Once a marketer Cheap Textbooks has converted the prospective buyer, base Cheap Textbooks management marketing takes over. The process for base management Cheap Textbooks shifts the Cheap Textbooks marketer Cheap Textbooks to building a relationship, nurturing the links, enhancing the benefits that sold the buyer in Cheap Textbooks the first place, and improving the product/service continuously to protect the business from competitive encroachments.
For a marketing plan to be successful, the Cheap Textbooks mix Cheap Textbooks of the four "Ps" must Cheap Holidays reflect the wants and Cheap Textbooks desires Cheap Textbooks of the consumers or Shoppers in the target market. Trying to Cheap Textbooks 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 Cheap Textbooks they are willing to pay Cheap Textbooks for. Marketers Cheap Textbooks hope that Cheap Textbooks this process will give them a sustainable competitive advantage. Marketing management is the practical application of this Cheap Textbooks process. The offer is also an important addition to the 4P's theory.
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Within most organizations, the activities encompassed by Cheap Textbooks 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 Marketing Officer position, reporting to the Chief Executive Cheap Textbooks Officer.
The American Marketing Association (AMA) states, �Marketing is the activity, set Cheap Car Insurance of institutions, and Cheap Textbooks processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and Cheap Textbooks society at large.".
Marketing methods are informed by Cheap Textbooks many of the social sciences, particularly psychology, sociology, and economics. Anthropology is also Cheap Air Fares a small, Cheap Textbooks but growing influence. Market research underpins these activities. Through advertising, it is also related to many of the creative arts. Marketing is a Cheap Textbooks 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 Cheap Textbooks customer focus (or customer orientation). This implies that the company focuses its activities and products on consumer demands. Generally there are three Cheap Textbooks ways Cheap Textbooks of doing this: the customer-driven approach, the sense of identifying market changes and the product Cheap Textbooks innovation approach.
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In the consumer-driven approach, consumer wants are the drivers of all strategic marketing decisions. No strategy is Cheap Textbooks pursued until it passes the test of consumer research. Every aspect of a market offering, Cheap Textbooks including the nature Cheap Textbooks of the product itself, is driven by the needs of potential consumers. The starting point is always the consumer. The rationale for this approach is Cheap Textbooks that there is no Cheap Textbooks point spending R&D funds developing products that Cheap Textbooks people will not buy. History attests to many products that were commercial Cheap Textbooks failures in spite of being technological breakthroughs.
A formal approach to this customer-focused marketing is known as SIVA[3] (Solution, Cheap Textbooks Information, Value, Access). This system is basically the four Ps renamed and Cheap Textbooks reworded to provide a customer focus.
The SIVA Model provides a demand/customer centric version alternative to the well-known 4Ps supply side model Cheap Textbooks (product, price, Cheap Textbooks place, promotion) of marketing management.
In a product innovation approach, the company pursues product innovation, Cheap Textbooks then tries to develop a Cheap Textbooks 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 Cheap Car Rental 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 Cheap Textbooks buy in the future. However, marketers can aggressively over-pursue product innovation and try Cheap Textbooks to Cheap Textbooks overcapitalize Cheap Textbooks on a niche. When pursuing a product innovation approach, marketers Cheap Textbooks must ensure that they have a varied and multi-tiered approach to product innovation. It is claimed that if Thomas Edison Cheap Textbooks Cheap Travel depended on marketing research he would have produced Cheap Textbooks larger candles rather Cheap Textbooks than Cheap Textbooks inventing light bulbs. Many firms, such as research and development focused companies, Cheap Textbooks successfully focus on product innovation (Such as Nintendo who constantly change the way Cheap Textbooks Video games are played). Many purists doubt whether this is really a form of marketing orientation Cheap Textbooks at all, because of Cheap Textbooks the ex post status of Cheap Uggs consumer Cheap Textbooks research. Some even question whether it is marketing. |
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