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