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 justified in the belief that customers use a product or service because they have a need, or because it provides a perceived benefit.
Two major factors of marketing are the recruitment Cheap Patio Sets of Cheap Patio Sets new Cheap Patio Sets customers (acquisition) and the Cheap Patio Sets retention and expansion Cheap Christmas Holidays of relationships with existing customers (base management). Once a marketer has converted the prospective Cheap Patio Sets buyer, base management marketing takes over. Cheap Patio Sets The Cheap Patio Sets process for Cheap Patio Sets base Cheap Patio Sets management shifts the marketer Cheap Patio Sets to building a relationship, nurturing the links, Cheap Patio Sets enhancing the benefits Cheap Patio Sets that sold the buyer in the Cheap Patio Sets first place, and improving the product/service continuously to protect the business from competitive encroachments.
For a marketing plan to be successful, the mix of the four "Ps" must reflect the wants and desires of the consumers or Shoppers in Cheap Patio Sets the target market. Trying to convince a market segment to buy something they don't Cheap Patio Sets 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 they are willing to pay for. Marketers hope that this process will give them a sustainable competitive advantage. Marketing management is the practical application Cheap Patio Sets of this process. The offer is Cheap Patio Sets also an important addition to the Cheap Patio Sets 4P's theory.
Within most organizations, the activities encompassed by the marketing function are led by a Vice President or Director of Marketing. Cheap Patio Sets 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, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value Cheap Patio Sets for customers, Cheap Patio Sets clients, partners, and society at large.".
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Marketing methods Cheap Patio Sets are informed by many of the social sciences, particularly psychology, Cheap Patio Sets sociology, and Cheap Patio Sets economics. Anthropology is also a small, but growing Cheap Patio Sets influence. Market research Cheap Patio Sets underpins Cheap Patio Sets these activities. Through advertising, it is also Cheap Patio Sets related to many of the creative arts. Marketing is a wide and Cheap Hotels Lafayette La heavily interconnected Cheap Airfares Discount Flights subject Cheap Patio Sets 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 Patio Sets on consumer demands. Generally there are three ways of doing Cheap Patio Sets this: the customer-driven approach, the sense Cheap Patio Sets of identifying market changes and Cheap Patio Sets the Cheap Patio Sets 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 Cheap Patio Sets research. Every aspect Cheap Patio Sets of a market offering, including the Cheap Patio Sets nature of the product Cheap Patio Sets itself, is driven by the needs of potential consumers. The starting point is always the consumer. The rationale for Cheap Patio Sets this approach is that there is no point spending R&D funds developing products that people will Cheap Patio Sets not buy. History attests to many products that 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, Cheap Patio Sets Access). This system is basically the four Ps Cheap Web Design Manchester renamed and Cheap Patio Sets reworded to provide a customer focus.
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The SIVA Model provides a demand/customer centric version alternative to the well-known 4Ps supply side model (product, price, place, promotion) Cheap Patio Sets of marketing management.
In a product innovation approach, the company pursues product Cheap Patio Sets innovation, then tries to develop a market Cheap Patio Sets Cheap Break Holiday Park Wales for the product. Cheap Patio Sets 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 Cheap Patio Sets know what options will be available to them in the future so Cheap Valium No Prescription we should not expect them to tell us what they will buy in the future. However, Cheap Patio Sets marketers can aggressively over-pursue product innovation and try to overcapitalize on a niche. When pursuing a product innovation approach, marketers must ensure that Cheap Patio Sets they have a varied Cheap Patio Sets and multi-tiered approach to product innovation. It is claimed that Cheap Patio Sets if Thomas Edison depended on marketing Cheap Patio Sets research he would have Cheap Patio Sets produced larger candles rather than inventing light bulbs. Many Cheap Patio Sets firms, such Cheap Patio Sets as research and development focused companies, successfully focus on Cheap Patio Sets product innovation (Such as Nintendo who constantly change the way Video games are played). Many purists doubt whether this is really a form of marketing orientation at all, because of the ex post status of consumer research. Some even Cheap Patio Sets question Cheap Patio Sets whether Cheap Patio Sets it is marketing. |
