A market-focused, or customer-focused, organization first determines what its potential Cheap Tickes customers desire, Cheap Tickes and then builds the product or service. Marketing theory and practice is justified in the belief that customers use a Cheap Tickes product or 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 retention and expansion of relationships with existing customers (base Cheap Tickes management). Once a marketer has converted Cheap Tickes the prospective buyer, base management marketing takes over. The process for base management shifts the marketer to building Cheap Tickes a relationship, Cheap Tickes nurturing the links, enhancing the benefits Cheap Tickes that sold the buyer in the first place, and improving the product/service continuously Cheap Tickes to protect the business from competitive encroachments.
For a marketing plan to be successful, the mix of the Cheap Tickes four "Ps" must reflect the wants and desires Cheap Tickes of the consumers or Shoppers in the target market. Trying to convince a market segment to buy something they don't want is extremely expensive and seldom successful. Marketers depend on Cheap Tickes insights Cheap Tickes from marketing research, both Cheap Tickes formal and informal, to determine what consumers Cheap Tickes want and what they Cheap Tickes are willing to pay for. Marketers hope that this process will give them a sustainable competitive advantage. Marketing management is the practical application of Cheap Tickes this process. The Cheap Tickes offer is also an important addition to the 4P's theory.
Within most Cheap Tickes organizations, the activities encompassed by the marketing function are led by a Vice President or Director Cheap Tickes of Marketing. A Cheap Tickes growing number of organizations, especially large US companies, have a Chief Marketing Officer position, reporting to the Chief Executive Cheap Tickes Officer.
The American Marketing Association (AMA) Cheap Tickes states, �Marketing is the activity, Cheap Tickes set Cheap Tickes of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large.".
Marketing Cheap Tickes methods are informed by many Cheap Tickes of the social sciences, particularly psychology, sociology, and economics. Anthropology is also a small, but growing influence. Market Cheap Tickes research underpins these activities. Through advertising, it is also related to many of the creative arts. Marketing Cheap Tickes is a wide Cheap Tickes and heavily interconnected subject with extensive publications. It is also an area of activity infamous for re-inventing itself and Cheap Tickes its vocabulary according Cheap Tickes to the times and the culture.
Many companies today have a customer focus (or customer orientation). This implies that the company focuses Cheap Tickes its activities and products on consumer demands. Generally there are three ways of doing this: the customer-driven approach, the Cheap Tickes sense of identifying market Cheap Tickes changes and the 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 Cheap Tickes of a market offering, including the nature of the product itself, is driven by the needs of Cheap Tickes potential consumers. The starting point is always the consumer. The rationale for this approach is that there is no point spending R&D funds developing products that people will not buy. History attests Cheap Tickes to many Cheap Tickes products that were commercial failures Cheap Tickes 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 Cheap Tickes customer focus.
The SIVA Model provides Cheap Tickes a demand/customer centric version alternative Cheap Tickes to the Cheap Tickes well-known 4Ps Cheap Tickes supply side model Cheap Tickes (product, price, place, promotion) of marketing 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 a profitable market segment(s) exists for 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 Cheap Tickes what they will buy in the future. However, marketers can aggressively over-pursue product innovation and try to overcapitalize Cheap Tickes on a niche. When pursuing a Cheap Tickes product Cheap Tickes innovation approach, marketers must ensure that they have a varied and multi-tiered approach Cheap Tickes to product innovation. It is claimed that if Thomas Edison depended on Cheap Tickes marketing research he would have produced larger candles rather than inventing Cheap Tickes light bulbs. Cheap Tickes Many firms, such as Cheap Tickes research and development focused companies, successfully focus on Cheap Tickes product innovation (Such as Nintendo who constantly change the Cheap Tickes way Video games are played). Many purists doubt whether this is really a form of marketing orientation at all, because Cheap Tickes of the ex post status of consumer research. Some Cheap Tickes even question whether it is marketing. |
