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Chapter 2 Business Fundamentals and Marketing 5
Chapter 2 Business Fundamentals and Marketing 5

... The farmer may not know the price, but knows that the grain-handling system and the world commodity market will accept the product. In terms of market information, the farmer can easily learn the estimated supply (or stocks) of corn as well as the anticipated demand from both public and private mark ...
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... a) Selecting a target market is the most important decision a company makes in the strategic planning process. (1) Should a company select the wrong target market all other marketing decisions will be ineffective. (2) Identification and analysis of a target market provide a foundation on which a mar ...
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... products • Cost of introducing a related new product is lower • Acceptance of new products is higher • However, failure of one can effect others • Marketing activities need to be closely ...
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... often concave but can be S-shaped. When consumer response is S-shaped, some positive amount of advertising is necessary to generate any sales impact, but sales increases eventually flatten out. 9 One classic study found that increasing the TV advertising budget had a measurable effect on sales only ...
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... The organizations that work on this intensely competitive environment, place the hardest work in classical marketing and marketing communications, on the shoulders of the consumers. This is because, it is expected from the consumer to take a positive decision about the product or the brand, after be ...
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... Identifying those within the organisation who need to be aware of the pitch (even if they won’t be directly involved in the process) and advising them of the ‘party line’ to give if they are approached by those outside the organisation (journalists, other agencies etc), will help you to control and ...
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... Content marketing is the next digital battle ground as more companies turn to content as a way to reach and engage customers, strengthen credibility, and build a passionate community of brand advocates. As consumers’ dependency on search and social media for information discovery increases, leading ...
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... Washington DC – March 24, 2010 -- The Network Advertising Initiative (NAI) today released the results of a first-of-its-kind study measuring the pricing and effectiveness of behaviorally-targeted (BT) advertising online. Based on proprietary data provided by twelve major advertising networks, the st ...
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... get better value for money. It enables innovation to be brought to market and stimulates economic growth and jobs. It provides substantial funding to support media and a variety of media content. Advertisers and marketers in Australia recognise their role and obligations regarding social responsibil ...
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... fruitlessly, or getting distracted by other apps instore (Fig. 6). One of the key benefits of QR codes is that, once the software is on the customer’s phone, the effort required to respond to marketing messages is reduced; respondents simply snap the QR code and are instantly directed to your choice ...
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... a. Marketing is involved with price as the major factor. b. Marketing focuses on sales as the primary goal. c. Marketing is about advertising. d. Marketing balances the need for data with that of creativity. Correct Answer Feedback: d The four Ps, also known as the marketing mix, help people working ...
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... Positioning is about the place a brand occupies in a market in the minds of the consumers. Strong brands have a clear, often unique position in a market. Positioning a product means that some people will not want the product, therefore, marketers have to be prepared to alienate some consumers. Marke ...
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... banking market is opened and national treatment has been adopted. On the other hand, resident’s investment market and housing mortgage market are both booming. China’s commercial banks confront with challenges and opportunities. China’s banking profits are basically built on interest gap between dep ...
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... attractive for visitors, firms and investment in order to safeguard and enhance the city’s development prospects; it is in that respect that city branding is considered useful. As Beriatos and Gospodini (2004) demonstrate, in the context of intercity competition and the efforts of cities for a disti ...
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... mix. Advertising has proved to be of great utility to sell goods and services. 10. Element of Creativity : A good advertising campaign involves lot of creativity and imagination. When the message of the advertiser matches the expectations of consumers, such creativity makes way for successful campai ...
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Viral marketing

Viral marketing, viral advertising, or marketing buzz are buzzwords referring to marketing techniques that use pre-existing social networking services and other technologies to try to produce increases in brand awareness or to achieve other marketing objectives (such as product sales) through self-replicating viral processes, analogous to the spread of viruses or computer viruses (cf. Internet memes and memetics). It can be delivered by word of mouth or enhanced by the network effects of the Internet and mobile networks. Viral advertising is personal and, while coming from an identified sponsor, it does not mean businesses pay for its distribution. Most of the well-known viral ads circulating online are ads paid by a sponsor company, launched either on their own platform (company webpage or social media profile) or on social media websites such as YouTube. Consumers receive the page link from a social media network or copy the entire ad from a website and pass it along through e-mail or posting it on a blog, webpage or social media profile. Viral marketing may take the form of video clips, interactive Flash games, advergames, ebooks, brandable software, images, text messages, email messages, or web pages. The most commonly utilized transmission vehicles for viral messages include: pass-along based, incentive based, trendy based, and undercover based. However, the creative nature of viral marketing enables an ""endless amount of potential forms and vehicles the messages can utilize for transmission"", including mobile devices.The ultimate goal of marketers interested in creating successful viral marketing programs is to create viral messages that appeal to individuals with high social networking potential (SNP) and that have a high probability of being presented and spread by these individuals and their competitors in their communications with others in a short period of time.The term ""VRL marketing"" has also been used pejoratively to refer to stealth marketing campaigns—marketing strategies that advertise a product to people without them knowing they are being marketed to.
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