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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.
In marketing, brand management begins with an analysis on how a brand is currently perceived in the market, proceeds to planning how the brand should be perceived if it is to achieve its objectives and continues with ensuring that the brand is perceived as planned and secures its objectives. Developing a good relationship with target markets is essential for brand management. Tangible elements of brand management include the product itself; its look, price, and packaging, etc. The intangible elements are the experiences that the target markets share with the brand, and also the relationships they have with the brand. A brand manager would oversee all aspects of the consumer's brand association as well as relationships with members of the supply chain.
Marketing strategy is an organization's promotional efforts to allocate its resources across a wide range of platforms, channels to increase its sales and achieve sustainable competitive advantage within its corresponding market.
In the field of consumer behavior, an impulse purchase or impulse buying is an unplanned decision by a consumer to buy a product or service, made just before a purchase. One who tends to make such purchases is referred to as an impulse purchaser, impulse buyer, or compulsive buyer. Research findings suggest that emotions, feelings, and attitudes play a decisive role in purchasing, triggered by seeing the product or upon exposure to a well crafted promotional message.
The following outline is provided as an overview of and topical guide to marketing:
Digital marketing is the component of marketing that uses the Internet and online-based digital technologies such as desktop computers, mobile phones and other digital media and platforms to promote products and services. Its development during the 1990s and 2000s changed the way brands and businesses use technology for marketing. As 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 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, e-mail direct marketing, display advertising, e-books, and optical disks and games have become commonplace. Digital marketing extends to non-Internet channels that provide digital media, such as television, mobile phones, callbacks, and on-hold mobile ring tones. The extension to non-Internet channels differentiates digital marketing from online marketing.
Recent innovations in mobile and sensor technologies allow for creating a digital representation of almost any physical entity and its parameters over time at any place. RFID technologies, for instance, are used to ground digital representations, which are used to track and geo-reference physical entities. In general, physical worlds and digital representations become tightly interconnected, so that manipulations in either would have effect on the other.
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.
Brand awareness is the extent to which customers are able to recall or recognize a brand under different conditions. Brand awareness is one of two dimensions from brand knowledge, an associative network memory model. Brand awareness is a key consideration in consumer behavior, advertising management, and brand management. The consumer's ability to recognize or recall a brand is central to purchasing decision-making. Purchasing cannot proceed unless a consumer is first aware of a product category and a brand within that category. Awareness does not necessarily mean that the consumer must be able to recall a specific brand name, but they must be able to recall enough distinguishing features for purchasing to proceed. Creating brand awareness is the main step in advertising a new product or bringing back the older brand in light.
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Product Planning, or product discovery, is the ongoing process of identifying and articulating market requirements that define a product's feature set. It serves as the basis for decision-making about price, distribution and promotion. Product planning is also the means by which companies and businesses can respond to long-term challenges within the business environment, often achieved by managing the product throughout its life cycle using various marketing strategies, including product extensions or improvements, increased distribution, price changes and promotions. It involves understanding the needs and wants of core customer groups so products can target key customer desires and allows a firm to predict how a product will be received within a market upon launch.
Toolkits for user innovation and custom design are coordinated sets of “user-friendly” design tools. They are designed to support users who may wish to develop products or services for their own use. The problem toolkits are developed to solve is that, while user designers may know their own needs better than do producers, their technical design skills may be less than those of producer-employed developers. For example, expert users of tennis rackets – or expert users of custom integrated circuits – generally know more than producers do about the function they want a product to serve. However, they are often not as good as producer engineers at actually designing the product they need.
The Journal of Product Innovation Management is a bimonthly peer-reviewed academic journal published by Wiley-Blackwell on behalf of the Product Development and Management Association. The current editors-in-chief are Jelena Spanjol (Ludwig-Maximilians-Universität) and Charles H. Noble.
Jerry (Yoram) Wind is The Lauder Professor and Professor of Marketing at The Wharton School of the University of Pennsylvania, and is the founding director of the Wharton "think tank,” The SEI Center for Advanced Studies in Management. He is internationally known for pioneering research on organizational buying behaviour, market segmentation, conjoint analysis, and marketing strategy. He consults with major firms around the world, provides expert testimony in many intellectual property and antitrust cases, and has lectured in over 50 universities worldwide.
Oded Lowengart is Professor of Marketing at the Ben-Gurion University of the Negev (BGU) in Israel, where he holds the Ernest Scheller Jr. Chair in Innovative Management and is Head of the Department of Business Administration. His two terms as Dean of the Guilford Glazer Faculty of Business and Management (2013–18) saw to opening the International MBA Program, expanded global programs, and increased Journal Citation Reports-ranked research publications.
An annoyance factor, in advertising and brand management, is a variable used to measure consumers' perception level of annoyance in an ad, then analyzed to help evaluate the ad's effectiveness. The variable can be observed or inferred and is a type that might be used in factor analyses. An annoyance effect is a reference to the impact or result of an annoying stimulus, which can be a strategic aspect of an advertisement intended to help a message stick in the minds of consumers. References to annoyance effects have been referred to as annoyancedynamics. While the words "factor" and "effect," as used in the behavioral sciences, have different meanings, in casual vernacular, they have been used interchangeably as synonymous. A more general or umbrella term would simply be advertising annoyance.
Kathryn LaTour is an American academic, researcher and author. She is an applied cognitive psychologist and currently serves as the Banfi Vintners Professor of Wine Education and Management at the School of Hotel Administration within Cornell University’s SC Johnson College of Business.
Michael LaTour was an American marketing researcher, author and academic. He was a professor at Ithaca College.
Thomas O’Guinn is an American marketing professor and an expert in the area of branding and the sociology of consumer behavior, including how viewers create distorted views of consumption behavior and other consumers through media viewing. He co-founded the work on compulsive buying with Ronald J. Faber. He and Robin Tanner and Aerum Maeng were the first to demonstrate that consumers infer social class, income, and the worth of an object for sale simply by the level of crowding or social density in a store. He is the, Irwin Maier Distinguished Chair in Business and Professor of Marketing at the University of Wisconsin-Madison. He also has an appointment in sociology at UW.
Federico Frattini is an Italian strategy, innovation and technology management scholar.
References
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- ↑ Winer, Russell Stuart (1979). An econometric analysis of the effect of advertising on consumer behavior (Ph.D. thesis). Carnegie Mellon University Graduate School of Industrial Administration. OCLC 830689256.
- ↑ "People in Business". The Tennessean. 1986-05-11. p. 136. Retrieved 2021-02-19– via Newspapers.com.
- ↑ Viña, Gonzalo (2016-03-15). "University of the People offers MBA with no tuition charge". Financial Times. Retrieved 2020-04-17.
- 1 2 3 Bansal, Shuchi (2016-09-19). "Too much choice can confuse consumers, says marketing guru Russell Winer". mint. Retrieved 2021-02-19.
- 1 2 Levere, Jane L. (2011-07-27). "A Sharpie Campaign, Aimed at Teenagers, Urges Self-Expression (Published 2011)". The New York Times. ISSN 0362-4331 . Retrieved 2021-02-19.
- ↑ Soman, Dilip. "What trick-or-treating tells us about human nature". theconversation.com. The Conversation. Retrieved 22 February 2021.
- ↑ Barczak, Gloria (September 1997). "Review". Journal of Product Innovation Management . 14 (5): 424. eISSN 1540-5885. ISSN 0737-6782.
- ↑ Reviews of Product Management:
- van Everdingen, Yvonne M.; Waarts, Eric (December 1999). "Book review". International Journal of Research in Marketing. 16 (4): 323. doi:10.1016/S0167-8116(99)00015-4. eISSN 1873-8001. ISSN 0167-8116.
- Barczak, Gloria (September 1997). "Review". Journal of Product Innovation Management. 14 (5): 425. eISSN 1540-5885. ISSN 0737-6782.
- Merunka, Dwight (September 2001). "Review". Recherche et Applications en Marketing. 16 (3): 117. doi:10.1177/076737010101600310. eISSN 2051-2821. ISSN 0767-3701. S2CID 167354009.
