Related Research Articles
Marketing is the process of exploring, creating, and delivering value to meet the needs of a target market in terms of goods and services; potentially including selection of a target audience; selection of certain attributes or themes to emphasize in advertising; operation of advertising campaigns; attendance at trade shows and public events; design of products and packaging attractive to buyers; defining the terms of sale, such as price, discounts, warranty, and return policy; product placement in media or with people believed to influence the buying habits of others; agreements with retailers, wholesale distributors, or resellers; and attempts to create awareness of, loyalty to, and positive feelings about a brand. Marketing is typically done by the seller, typically a retailer or manufacturer. Sometimes tasks are contracted to a dedicated marketing firm or advertising agency. More rarely, a trade association or government agency advertises on behalf of an entire industry or locality, often a specific type of food, food from a specific area, or a city or region as a tourism destination.
Brand equity, in marketing, is the worth of a brand in and of itself – i.e., the social value of a well-known brand name. The owner of a well-known brand name can generate more revenue simply from brand recognition, as consumers perceive the products of well-known brands as better than those of lesser-known brands.
The term "marketing mix" is a foundation model for businesses, historically centered around product, price, place, and promotion. 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".
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.
As part of consumer behavior, the buying decision process is the decision-making process used by consumers regarding the market transactions before, during, and after the purchase of a good or service. It can be seen as a particular form of a cost–benefit analysis in the presence of multiple alternatives.
A strategic business unit (SBU) in business strategic management, is a profit center which focuses on product offering and market segment. SBUs typically have a discrete marketing plan, analysis of competition, and marketing campaign, even though they may be part of a larger business entity.
Philip Kotler is an American marketing author, consultant, and professor emeritus; the S. C. Johnson & Son Distinguished Professor of International Marketing at the Kellogg School of Management at Northwestern University (1962–2018). He is known for popularizing the definition of marketing mix. He is the author of over 80 books, including Marketing Management, Principles of Marketing, Kotler on Marketing, Marketing Insights from A to Z, Marketing 4.0, Marketing Places, Marketing of Nations, Chaotics, Market Your Way to Growth, Winning Global Markets, Strategic Marketing for Health Care Organizations, Social Marketing, Social Media Marketing, My Adventures in Marketing, Up and Out of Poverty, and Winning at Innovation. Kotler describes strategic marketing as serving as "the link between society's needs and its pattern of industrial response."
Eduardo L. Roberto or Ned Roberto is a Filipino professor who is considered Asia's foremost authority in marketing. He was the professor of international marketing at the Asian Institute of Management located in Metro Manila in the Philippines. He has written several marketing-related books and is currently, a part of the editorial board of the International Journal of Research in Marketing. His areas of interest for teaching and research include marketing research, social marketing and consumer behavior. He has also taught at the Northwestern University’s Kellogg Graduate School of Management Chicago Campus and at the Euro-Asia Centre of INSEAD Macau.
Nation branding aims to measure, build and manage the reputation of countries. In the book Diplomacy in a Globalizing World: Theories and Practices, the authors define nation branding as "the application of corporate marketing concepts and techniques to countries, in the interests of enhancing their reputation in international relations." Many nations try to make brands in order to build relationships between different actors that are not restricted to nations. It extends to public and private sectors in a nation and helps with nationalism. States also want to participate in multilateral projects. Some approaches applied, such as an increasing importance on the symbolic value of products, have led countries to emphasize their distinctive characteristics. The branding and image of a nation-state "and the successful transference of this image to its exports - is just as important as what they actually produce and sell." This is also referred to as country-of-origin effect.
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).
The brand development index or BDI quantifies how well a brand performs in a market, compared with its average performance among all markets. That is, it measures the relative sales strength of a brand within a specific market.
Return on marketing investment (ROMI) is the contribution to profit attributable to marketing, 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, marketing funds are typically 'risked'. Marketing spending is typically expensed in the current period.
The study of the history of marketing, as a discipline, is meaningful because it helps to define the baselines upon which change can be recognised and understand how the discipline evolves in response to those changes. The practice of marketing has been known for millennia, but the term "marketing" used to describe commercial activities assisting the buying and selling of products or services came into popular use in the late nineteenth century. The study of the history of marketing as an academic field emerged in the early twentieth century.
The marketing research process is a six-step process involving the definition of the problem being studied upon, determining what approach to take, formulation of research design, field work entailed, data preparation and analysis, and the generation of reports, how to present these reports, and overall, how the task can be accomplished.
Irving Jacob Rein is a professor of Communication Studies at Northwestern University. He is the author of many books on effective communication strategies and marketing.
Waldemar Pförtsch is a German professor, management advisor and specialized book author for business administration and international management.
Frank A Buckless is an American business educator, textbook editor and author, as well as consultant who is known for his expertise in auditing. Buckless is the Stephen P. Zelnak Dean of the Poole College of Management at North Carolina State University,
Jay B. Barney is an American professor in strategic management at the University of Utah.
Marc Oliver Opresnik is a German professor, scholar, author and researcher. He is a professor of business administration with focus on marketing at the Lübeck University of Applied Sciences in Germany and Chief Research Officer at Kotler Impact Inc., the organization founded by the American marketing professor Philip Kotler. His research is about Social Media Marketing and Communication as well as Negotiation and he is the author of more than 30 publications in these subject areas, including Marketing Management, Marketing: An Introduction, Social Media Marketing and The Hidden Rules of Successful Negotiation and Communication.
Justin Paul is a professor of business administration at the University of Puerto Rico with a 3 year Visiting Professor assignment with Henley Business School, University of Reading, UK and editor-in chief of the International Journal of Consumer Studies. Previously, Paul served as a faculty member with Rollins College, the University of Washington and Nagoya University of Commerce and Business, Japan.
References
- Kevin Lane Keller, E. B. Osborn Professor of Marketing. Dartmouth College. Accessed February 24, 2011.
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