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Referral Marketing
Referral marketing is a word-of-mouth initiative designed by a company to incentivize existing customers to introduce their family, friends, and contacts to become new customers. Unlike pure word-of-mouth strategies—where customers independently share information without company involvement or ability to track—referral marketing actively incentivizes and rewards existing customers for referring new ones, allowing the company to influence, track, and measure the referral process. The process is distinct from multi-level marketing, in that there is no incentive for the original existing customer to drive or influence the subsequent referrals of the new customer – only the conversion of the initial, primary customer is rewarded. Overview Referral marketing is a tool used by businesses and corporations across various industries to grow and build their customer bases. In the past, referral marketing was purely focused on spreading information through verbal interaction with a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Multi-level Marketing
Multi-level marketing (MLM), also called network marketing or pyramid selling, is a controversial and sometimes illegal marketing strategy for the sale of products or services in which the revenue of the MLM company is derived from a non-salaried workforce selling the company's products or services, while the earnings of the participants are derived from a pyramid-shaped or binary compensation commission system. In multi-level marketing, the compensation plan usually pays out to participants from two potential revenue streams. The first is based on a sales commission from directly selling the product or service; the second is paid out from commissions based upon the wholesale purchases made by other sellers whom the participant has recruited to also sell product. In the organizational hierarchy of MLM companies, recruited participants (as well as those whom the recruit recruits) are referred to as one's ''downline'' distributors. MLM salespeople are, therefore, expected to sel ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Moral Hazard
In economics, a moral hazard is a situation where an economic actor has an incentive to increase its exposure to risk because it does not bear the full costs associated with that risk, should things go wrong. For example, when a corporation is insured, it may take on higher risk knowing that its insurance will pay the associated costs. A moral hazard may occur where the actions of the risk-taking party change to the detriment of the cost-bearing party after a financial transaction has taken place. Moral hazard can occur under a type of information asymmetry where the risk-taking party to a transaction knows more about its intentions than the party paying the consequences of the risk and has a tendency or incentive to take on too much risk from the perspective of the party with less information. One example is a principal–agent approach (also called agency theory), where one party, called an agent, acts on behalf of another party, called the principal. However, a principa ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Digital Marketing
Digital marketing is the component of marketing that uses the Internet and online-based Information technology, digital technologies such as desktop computers, mobile phones, and other digital media and platforms to promote products and services. It has significantly transformed the way brands and businesses utilize technology for marketing since the 1990s and 2000s. As Digital platform (infrastructure), digital platforms became increasingly incorporated into marketing plans and everyday life, and as people increasingly used digital devices instead of visiting physical shops, digital marketing campaigns have become prevalent, employing combinations of methods. Some of these methods include: search engine optimization (SEO), search engine marketing (SEM), content marketing, influencer marketing, content automation, campaign marketing, data-driven marketing, e-commerce marketing, social media marketing, social media optimization, Email marketing, e-mail direct marketing, display a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Affiliate Marketing
Affiliate marketing is a marketing arrangement in which Affiliate (commerce), affiliates receive a wiktionary:commission, commission for each visit, signup or sale they generate for a merchant. This arrangement allows businesses to Outsourcing, outsource part of the Sales, sales process. It is a form of performance-based marketing where the commission acts as an Economic incentive, incentive for the affiliate; this commission is usually a percentage of the price of the product being sold, but can also be a flat rate per referral. Affiliate marketers may use a variety of methods to generate these sales, including Organic search, organic search engine optimization, paid search engine marketing, e-mail marketing, content marketing, display advertising, organic social media marketing, and more. Though the largest companies run their own affiliate networks (for example Amazon), most merchants join affiliate networks which provide reporting tools and payment processing. History Ori ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Content Marketing
Content marketing is a form of marketing focused on creating, publishing, and distributing content for a targeted audience online. It is often used in order to achieve the following business goals: attract attention and generate leads, expand their customer base, generate or increase online sales, increase brand awareness or credibility, and engage a community of online users. Content marketing attracts new customers by creating and sharing valuable free content as well as by helping companies create sustainable brand loyalty, providing valuable information to consumers, and creating a willingness to purchase products from the company in the future. Content marketing starts with identifying the customer's needs. After that, the information can be presented in a variety of long form and short form formats, including news, video, white papers, e-books, infographics, email newsletters, case studies, podcasts, how-to guides, question and answer articles, photos, blogs, etc. Exam ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Customer Knowledge
Customer knowledge (CK) is the combination of experience, value and insight information which is needed, created and absorbed during the transaction and exchange between the customers and enterprise. Campbell (2003) defines customer knowledge as: "organized and structured information about the customer as a result of systematic processing". According to Mitussis et al. (2006), customer knowledge is identified as one of the more complex types of knowledge, since customer knowledge can be captured from different sources and channels. Classification Various classifications exist: Gebert et al. (2002), classified customer knowledge from an organization's perspective into three types: #Knowledge about customers: Is gained mainly by service management, offer management, complaint management and, if available, contract management. The main user processes of knowledge regarding the customer are campaign management and service management, because both processes personalize their services bas ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Incentive
In general, incentives are anything that persuade a person or organization to alter their behavior to produce the desired outcome. The laws of economists and of behavior state that higher incentives amount to greater levels of effort and therefore higher levels of performance. For comparison, a disincentive is something that discourages from certain actions. Divisions An incentive is a powerful tool to influence certain desired behaviors or action often adopted by governments and businesses. Incentives can be broadly broken down into two categories: intrinsic incentives and extrinsic incentives. Overall, both types of incentives can be powerful tools often employ to increase effort and higher performance according to the "law of behavior." Incentives are most studied in the area of personnel economics where economic analysts, such as those who take part in human resources management practices, focus on how firms make employees more motivated, through pay and career concerns, Fi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
University Of California, San Diego
The University of California, San Diego (UC San Diego in communications material, formerly and colloquially UCSD) is a public university, public Land-grant university, land-grant research university in San Diego, California, United States. Established in 1960 near the pre-existing Scripps Institution of Oceanography in La Jolla, UC San Diego is the southernmost of the ten campuses of the University of California. It offers over 200 undergraduate and graduate degree programs, enrolling 33,096 undergraduate and 9,872 graduate students, with the second largest student housing capacity in the nation. The university occupies near the Pacific coast. UC San Diego consists of 12 undergraduate, graduate, and professional schools as well as 8 undergraduate residential colleges. The university operates 19 organized research units as well as 8 School of Medicine research units, 6 research centers at Scripps Institution of Oceanography, and 2 multi-campus initiatives. UC San Diego is als ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Washington University In St
Washington most commonly refers to: * George Washington (1732–1799), the first president of the United States * Washington (state), a state in the Pacific Northwest of the United States * Washington, D.C., the capital of the United States ** A metonym for the federal government of the United States ** Washington metropolitan area, the metropolitan area centered on Washington, D.C. Washington may also refer to: Places England * Washington Old Hall, ancestral home of the family of George Washington * Washington, Tyne and Wear, a town in the City of Sunderland metropolitan borough * Washington, West Sussex, a village and civil parish Greenland * Cape Washington, Greenland * Washington Land Philippines *New Washington, Aklan, a municipality *Washington, a barangay in Catarman, Northern Samar *Washington, a barangay in Escalante, Negros Occidental *Washington, a barangay in San Jacinto, Masbate *Washington, a barangay in Surigao City United States * Fort Washington (disambiguati ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Harvard Business School
Harvard Business School (HBS) is the graduate school, graduate business school of Harvard University, a Private university, private Ivy League research university. Located in Allston, Massachusetts, HBS owns Harvard Business Publishing, which publishes business books, leadership articles, Case method, case studies, and ''Harvard Business Review'', a monthly academic business magazine. It is also home to the Baker Library/Bloomberg Center, the school's primary library. Harvard Business School is one of six List of Ivy League business schools, Ivy League business schools. History The school was established in 1908. Initially established by the humanities faculty, it received independent status in 1910, and became a separate administrative unit in 1913. The first dean was historian Edwin Francis Gay (1867–1946). Yogev (2001) explains the original concept: :This school of business and public administration was originally conceived as a school for diplomacy and government servi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Goethe University Frankfurt
Goethe University Frankfurt () is a public research university located in Frankfurt am Main, Germany. It was founded in 1914 as a citizens' university, which means it was founded and funded by the wealthy and active liberal citizenry of Frankfurt. The original name in German was Universität Frankfurt am Main (University of Frankfurt am Main). In 1932, the university's name was extended in honour of one of the most famous native sons of Frankfurt, the poet, philosopher and writer/dramatist Johann Wolfgang von Goethe. The university currently has around 48,000 students, distributed across four major campuses within the city. The university celebrated its 100th anniversary in 2014. The first female president of the university, Birgitta Wolff, was sworn into office in 2015, and was succeeded by Enrico Schleiff in 2021. 20 Nobel Prize winners have been affiliated with the university, including Max von Laue and Max Born. The university is also affiliated with 18 winners of the Gott ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
University Of Pennsylvania
The University of Pennsylvania (Penn or UPenn) is a Private university, private Ivy League research university in Philadelphia, Pennsylvania, United States. One of nine colonial colleges, it was chartered in 1755 through the efforts of founder and first president Benjamin Franklin, who had advocated for an educational institution that trained leaders in academia, commerce, and public service. The university has four undergraduate schools and 12 graduate and professional schools. Schools enrolling undergraduates include the College of Arts and Sciences, the University of Pennsylvania School of Engineering and Applied Science, School of Engineering and Applied Science, the Wharton School, and the University of Pennsylvania School of Nursing, School of Nursing. Among its graduate schools are its University of Pennsylvania Law School, law school, whose first professor, James Wilson (Founding Father), James Wilson, helped write the Constitution of the United States, U.S. Cons ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
