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A reader model is the term used for the hypothetical average person who is the target audience for a product. A reader model can be made from the average behaviour of many product users by datamining things like loyalty cards. Based on data collected from datamining, an 'ordinary individual' (everyman) can be constructed (modeled) to develop the best strategy for selling to consumers. Reader models are used by corporations to direct consumer behaviour to their products. Marketing, advertising, and product placement use reader models as a central part of their planning and source the reader model by using focus groups. In plain language a reader model is used by corporations to predict who will buy the better mousetrap. The 'everyman' is used by commercial musicians, writers, and the movie industry trying to make money from a product that will appeal to a mass audience. These industries use the reader model to try to gauge and predict the consumer market in an effort to create and profit from a hit single, best seller, or a box office hit movie. A well-known example is the success of Jaws (novel), the film, and the theme music.
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Customer relationship management (CRM) is a process in which a business or other organization administers its interactions with customers, typically using data analysis to study large amounts of information.
In economics, specifically general equilibrium theory, a perfect market, also known as an atomistic market, is defined by several idealizing conditions, collectively called perfect competition, or atomistic competition. In theoretical models where conditions of perfect competition hold, it has been demonstrated that a market will reach an equilibrium in which the quantity supplied for every product or service, including labor, equals the quantity demanded at the current price. This equilibrium would be a Pareto optimum.
Persuasion or persuasion arts is an umbrella term for influence. Persuasion can influence a person's beliefs, attitudes, intentions, motivations, or behaviours.
Corporate propaganda refers to propagandist claims made by a corporation, for the purpose of manipulating market opinion with regard to that corporation, and its activities.
Information goods are commodities that provide value to consumers as a result of the information it contains and refers to any good or service that can be digitalized. Examples of information goods includes books, journals, computer software, music and videos. Information goods can be copied, shared, resold or rented. Information goods are durable and thus, will not be destroyed through consumption. As information goods have distinct characteristics as they are experience goods, have returns to scale and are non-rivalrous, the laws of supply and demand that depend on the scarcity of products do not frequently apply to information goods. As a result, the buying and selling of information goods differs from ordinary goods. Information goods are goods whose unit production costs are negligible compared to their amortized development costs. Well-informed companies have development costs that increase with product quality, but their unit cost is zero. Once an information commodity has been developed, other units can be produced and distributed at almost zero cost. For example, allow downloads over the Internet. Conversely, for industrial goods, the unit cost of production and distribution usually dominates. Firms with an industrial advantage do not incur any development costs, but unit costs increase as product quality improves.
In marketing, market segmentation is the process of dividing a broad consumer or business market, normally consisting of existing and potential customers, into sub-groups of consumers based on shared characteristics.
A review is an evaluation of a publication, product, service, or company or a critical take on current affairs in literature, politics or culture. In addition to a critical evaluation, the review's author may assign the work a rating to indicate its relative merit.
Mass marketing is a marketing strategy in which a firm decides to ignore market segment differences and appeal the whole market with one offer or one strategy, which supports the idea of broadcasting a message that will reach the largest number of people possible. Traditionally, mass marketing has focused on radio, television and newspapers as the media used to reach this broad audience. By reaching the largest audience possible, exposure to the product is maximized, and in theory this would directly correlate with a larger number of sales or buys into the product.
Consumer behaviour is the study of individuals, groups, or organisations and all the activities associated with the purchase, use and disposal of goods and services. Consumer behaviour consists of how the consumer's emotions, attitudes, and preferences affect buying behaviour. Consumer behaviour emerged in the 1940–1950s as a distinct sub-discipline of marketing, but has become an interdisciplinary social science that blends elements from psychology, sociology, social anthropology, anthropology, ethnography, ethnology, marketing, and economics.
Advertising management is a planned managerial process designed to oversee and control the various advertising activities involved in a program to communicate with a firm's target market and which is ultimately designed to influence the consumer's purchase decisions. Advertising is just one element in a company's promotional mix and as such, must be integrated with the overall marketing communications program. Advertising is, however, the most expensive of all the promotional elements and therefore must be managed with care and accountability. Advertising management process also helps in defining the outline of the media campaign and in deciding which type of advertising would be used before the launch of a product.
Anti-consumerism is a sociopolitical ideology that is opposed to consumerism, the continual buying and consuming of material possessions. Anti-consumerism is concerned with the private actions of business corporations in pursuit of financial and economic goals at the expense of the public welfare, especially in matters of environmental protection, social stratification, and ethics in the governing of a society. In politics, anti-consumerism overlaps with environmental activism, anti-globalization, and animal-rights activism; moreover, a conceptual variation of anti-consumerism is post-consumerism, living in a material way that transcends consumerism.
The everyman is a stock character of fiction. An ordinary and humble character, the everyman is generally a protagonist whose benign conduct fosters the audience's identification with them.
A target audience is the intended audience or readership of a publication, advertisement, or other message catered specifically to said intended audience. In marketing and advertising, it is a particular group of consumer within the predetermined target market, identified as the targets or recipients for a particular advertisement or message. Businesses that have a wide target market will focus on a specific target audience for certain messages to send, such as The Body Shops Mother's Day advertisements, which were aimed at the children and spouses of women, rather than the whole market which would have included the women themselves. A target audience is formed from the same factors as a target market, but it is more specific, and is susceptible to influence from other factors. An example of this was the marketing of the USDA's food guide, which was intended to appeal to young people between the ages of 2 and 18.
Enologix is a privately held California corporation that designs predictive analytics for luxury winegrowing. The company sells grape and wine quality indices, models, software and consulting products. Enologix created the first algorithms that predict grape harvest dates, grading new wines, digital blends, and future market price, volume and taste scores. The most important metric among winemakers are digital blends and a taste index which predicts 100-point scores of consumer critics such as Robert Parker. It claims that the quality of wine can be measured chemically, and a score assessed, much like a wine critic. Clients include Beaulieu, Cakebread Cellars, Diamond Creek, Ridge Vineyards. Enologix's metrics have been correlated with market performance metrics, including 100-points critics' scores.
Green marketing is the marketing of products that are presumed to be environmentally safe. It incorporates a broad range of activities, including product modification, changes to the production process, sustainable packaging, as well as modifying advertising. Yet defining green marketing is not a simple task where several meanings intersect and contradict each other; an example of this will be the existence of varying social, environmental and retail definitions attached to this term. Other similar terms used are environmental marketing and ecological marketing.
The following article is based on UK market; other countries may differ.
Customer engagement is an interaction between an external consumer/customer and an organization through various online or offline channels. According to Hollebeek, Srivastava and Chen S-D logic-Definition of customer engagement is "a customer’s motivationally driven, volitional investment of operant resources, and operand resources into brand interactions," which applies to online and offline engagement.
In information science, profiling refers to the process of construction and application of user profiles generated by computerized data analysis.
Demographic targeting is a form of behavioral advertising in which advertisers target online advertisements at consumers based on demographic information.
For the purpose of better understanding attitudinal targeting, it can be discussed using the 5 Ws and one H: who, what, when, where, why, and how. David Grossman, author of the article "How To Communicate Better with The 5 Ws and an H", stated this is the essential foundation in understanding the full context of a topic and making it relevant to the audience.