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Marketing Research Mix
{{marketing The term Marketing research mix (or the "MR Mix") was created in 2004 and published in 2007 (Bradley - see references). It was designed as a framework to assist researchers to design or evaluate marketing research studies. The name was deliberately chosen to be similar to the Marketing Mix - it also has four Ps. Unlike the marketing mix these elements are sequential and they match the main phases that need to be followed. These four Ps are: Purpose; Population; Procedure and Publication. Purpose The purpose of the research is the reason why it is being done. The word “purpose” is useful because it has a wide coverage. It can be specifically defined or it can be loosely explained. The wide term also embraces studies to gather marketing intelligence, where the manager's role is to scan the environment for useful data, and there may be no specific objective. Many marketers avoid the term hypothesis entirely and tend to use the words “research objective” or “ai ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Marketing Mix
The term "marketing mix" is a foundation model for businesses, historically centered around product, price, place, and promotion (also known as the "4 Ps"). The marketing mix has been defined as the "set of marketing tools that the firm uses to pursue its marketing objectives in the target market".Kotler, P., Marketing Management, (Millennium Edition), Custom Edition for University of Phoenix, Prentice Hall, 2001, p. 9. Marketing theory emerged in the early twenty-first century. The contemporary marketing mix which has become the dominant framework for marketing management decisions was first published in 1984. In services marketing, an extended marketing mix is used, typically comprising 7 Ps ( product, price, promotion, place, packaging, positioning and people), made up of the original 4 Ps extended by process, people and physical evidence. Occasionally service marketers will refer to 8 Ps (product, price, place, promotion, people, positioning, packaging, and performance), comp ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Consumer Watchdog
Consumer Watchdog (formerly the Foundation for Taxpayer and Consumer Rights) is a non-profit, progressive organization which advocates for taxpayer and consumer interests, with a focus on insurance, health care, political reform, privacy and energy. The organization was founded in 1985 by California Proposition 103 author Harvey Rosenfield and is headquartered in Santa Monica, California. Its chief officers include President Jamie Court and Executive Director Carmen Balber. Early history After lobbying with consumer advocate Ralph Nader on a number of issues including campaign finance reform and nuclear power proliferation, Rosenfield founded Consumer Watchdog in 1985. Later, Rosenfield and Nader campaigned against California Proposition 51 (1986), an insurance-industry-backed initiative on the California ballot in 1986 that limited damage claims on lawsuits. Though Proposition 51 passed, Rosenfield continued to work for insurance rate reductions at his newly formed pub ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Market Research Proposal Writing
Market is a term used to describe concepts such as: *Market (economics), system in which parties engage in transactions according to supply and demand *Market economy *Marketplace, a physical marketplace or public market Geography * Märket, an island shared by Finland and Sweden Art, entertainment, and media Films * ''Market'' (1965 film), 1965 South Korean film * ''Market'' (2003 film), 2003 Hindi film *'' The Market: A Tale of Trade'', a Turkish film Television * ''The Market'' (TV series), a New Zealand television drama Brands or enterprises *The Market (company), a concept grocery store *The Market, a specialized Safeway store Types of economic markets *Agricultural marketing * Emerging market * Energy market *Financial market *Foreign exchange market * Grey market, commodity trade outside of original producer's distribution channel *Media market, geographic area with mostly the same set of media outlets *Niche market * Open market, a free trade economy; the antonym of c ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Marketing Strategy
Marketing strategy allows organizations to focus limited resources on best opportunities to increase sales and achieve a competitive advantage in the market. Strategic marketing emerged in the 1970s/80s as a distinct field of study, further building on strategic management. Marketing strategy highlights the role of marketing as a link between the organization and its customers, leveraging the combination of resources and capabilities within an organization to achieve a competitive advantage (Cacciolatti & Lee, 2016). Marketing management versus marketing strategy The distinction between "strategic" and "managerial" marketing is used to distinguish "two phases having different goals and based on different conceptual tools. Strategic marketing concerns the choice of policies aiming at improving the competitive position of the firm, taking account of challenges and opportunities proposed by the competitive environment. On the other hand, managerial marketing is focused on the implem ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Marketing Management
Marketing management is the organizational discipline which focuses on the practical application of marketing orientation, techniques and methods inside enterprises and organizations and on the management of a firm's marketing resources and activities. Structure Marketing management employs tools from economics and competitive strategy to analyze the industry context in which the firm operates. These include Porter's five forces, analysis of strategic groups of competitors, value chain analysis and others. In competitor analysis, marketers build detailed profiles of each competitor in the market, focusing on their relative competitive strengths and weaknesses using SWOT analysis. Marketing managers will examine each competitor's cost structure, sources of profits, resources and competencies, competitive positioning and product differentiation, degree of vertical integration, historical responses to industry developments, and other factors. Marketing management often condu ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Marketing Plan
A marketing plan may be part of an overall business plan. Solid marketing strategy is the foundation of a well-written marketing plan so that goals may be achieved. While a marketing plan contains a list of actions, without a sound strategic foundation, it is of little use to a business. Summary A marketing plan is a comprehensive document or blueprint that outlines the advertising and marketing efforts for the coming year. It describes business activities involved in accomplishing specific marketing objectives within a set time frame. A marketing plan also includes a description of the current marketing position of a business, a discussion of the target market and a description of the marketing mix that a business will use to achieve their marketing goals. A marketing plan has a formal structure, but can be used as a formal or informal document which makes it very flexible. It contains some historical data, future predictions, and methods or strategies to achieve the marketing ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Marketing Mix
The term "marketing mix" is a foundation model for businesses, historically centered around product, price, place, and promotion (also known as the "4 Ps"). The marketing mix has been defined as the "set of marketing tools that the firm uses to pursue its marketing objectives in the target market".Kotler, P., Marketing Management, (Millennium Edition), Custom Edition for University of Phoenix, Prentice Hall, 2001, p. 9. Marketing theory emerged in the early twenty-first century. The contemporary marketing mix which has become the dominant framework for marketing management decisions was first published in 1984. In services marketing, an extended marketing mix is used, typically comprising 7 Ps ( product, price, promotion, place, packaging, positioning and people), made up of the original 4 Ps extended by process, people and physical evidence. Occasionally service marketers will refer to 8 Ps (product, price, place, promotion, people, positioning, packaging, and performance), comp ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Marketing Effectiveness
Marketing effectiveness is the measure of how effective a given marketer's go to market strategy is toward meeting the goal of maximizing their spending to achieve positive results in both the short- and long-term. It is also related to marketing ROI and return on marketing investment (ROMI). Marketing expert Tony Lennon believes marketing effectiveness is quintessential to marketing, going so far as to say ''It's not marketing if it's not measured.'' History The concept of marketing effectiveness first came to prominence in the 1990s with the publication of Robert Shaw's ''Improving Marketing Effectiveness'' which won the 1998 Business Management Book of the Year Award. In the book ''What Sticks'' (), authors Rex Briggs and Greg Stuart calculated that marketers waste 37% of their marketing investment. Reasons for the waste include failure to understand underlying customer motivations for buying, ineffective messages, and inefficient media mix investment (pg 19–20). ''Wh ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Return On Marketing Investment
Return on marketing investment (ROMI) is the contribution to profit attributable to marketing (net of marketing spending), divided by the marketing 'invested' or risked. ROMI is not like the other 'return-on-investment' (ROI) metrics because marketing is not the same kind of investment. Instead of money that is 'tied' up in plants and inventories (often considered capital expenditure or CAPEX), marketing funds are typically 'risked'. Marketing spending is typically expensed in the current period ( operational expenditure or OPEX). The idea of measuring the market's response in terms of sales and profits is not new, but terms such as marketing ROI and ROMI are used more frequently now than in past periods. Usually, marketing spending will be deemed justified if the ROMI is positive. In a survey of nearly 200 senior marketing managers, nearly half responded that they found the ROMI metric very useful.Farris, Paul W.; Neil T. Bendle; Phillip E. Pfeifer; David J. Reibstein (2010) ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
