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