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Marketing Management Strategies Affecting Performance of Small
Marketing Management Strategies Affecting Performance of Small

... competitors. In addition, they identify potential markets for example, wholesales, public, retails business firms, or government. Parker (2014) observes that marketing managers develop pricing strategy with an eye towards maximizing the firm's share of the market and its profits while ensuring that ...
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... what is happening to ________. a. market share b. customer loss rate c. customer satisfaction d. product quality e. all of the above Answer: e Page: 29 Level of difficulty: Medium 58. At the heart of any marketing program is the ________—the firm’s tangible offering to the market. a. service offer b ...
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Trade Fairs Role as Part of the Firms` Marketing Communication
Trade Fairs Role as Part of the Firms` Marketing Communication

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Marketing mix modeling

Marketing mix modeling (MMM) is a term of art for the use of statistical analysis such as multivariate regressions on sales and marketing time series data to estimate the impact of various marketing tactics (marketing mix) on sales and then forecast the impact of future sets of tactics. It is often used to optimize advertising mix and promotional tactics with respect to sales revenue or profit.The techniques were developed by econometricians and were first applied to consumer packaged goods, since manufacturers of those goods had access to good data on sales and marketing support. The first companies dedicated to the commercial development of MMM were MMA (then Media Marketing Assessment) started in 1990 and the Hudson River Group founded in 1989. Other early pioneer-users of econometric modeling were the ATG group at the advertising agency JWT in the 1990s and later incorporated into MindShare ATG, BrandScience at Omnicom, and the specialist modeling agency OHAL since the late 1980s. These agencies took MMM from being a little-used and academic discipline to being a widespread and common marketing tool. Improved availability of data, massively greater computing power, and the pressure to measure and optimize marketing spend has driven the explosion in popularity as a marketing tool. In the recent times MMM has found acceptance as a trustworthy marketing tool among the major consumer marketing companies. Often in the digital media context, MMM is referred to as attribution modeling.
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