Advertising is the practice and techniques employed to bring attention to a product or service. Advertising aims to put a product or service in the spotlight in hopes of drawing it attention from consumers. It is typically used to promote a specific good or service, but there are wide range of uses, the most common being the commercial advertisement.
Dartmouth College is a private Ivy League research university in Hanover, New Hampshire. Established in 1769 by Eleazar Wheelock, Dartmouth is one of the nine colonial colleges chartered before the American Revolution. It is among the most prestigious universities in the country.
Marketing is the process of identifying customers and "creating, communicating, delivering, and exchanging" goods and services for the satisfaction and retention of those customers. It is one of the primary components of business management and commerce.
Retail is the sale of goods and services to consumers, in contrast to wholesaling, which is sale to business or institutional customers. A retailer purchases goods in large quantities from manufacturers, directly or through a wholesaler, and then sells in smaller quantities to consumers for a profit. Retailers are the final link in the supply chain from producers to consumers.
John Dutton Conant Little is an Institute Professor at the Massachusetts Institute of Technology best known for his result in operations research, Little's law.
Distribution is the process of making a product or service available for the consumer or business user who needs it, and a distributor is a business involved in the distribution stage of the value chain. Distribution can be done directly by the producer or service provider or by using indirect channels with distributors or intermediaries. Distribution is one of the four elements of the marketing mix: the other three elements being product, pricing, and promotion.
The University of Massachusetts is the five-campus public university system and the only public research system in the Commonwealth of Massachusetts. The university system includes five campuses, a satellite campus in Springfield and also 25 campuses throughout California and Washington with the University of Massachusetts Global.
A price war is a form of market competition in which companies within an industry engage in aggressive pricing strategies, “characterized by the repeated cutting of prices below those of competitors”. This leads to a vicious cycle, where each competitor attempts to match or undercut the price of the other. Competitors are driven to follow the initial price-cut due to the downward pricing pressure, referred to as “price-cutting momentum”.
The University of Massachusetts Dartmouth is a public research university in Dartmouth, Massachusetts. It is the southernmost campus of the University of Massachusetts system. Formerly Southeastern Massachusetts University, it was merged into the University of Massachusetts system in 1991.
Sponsoring something is the act of supporting an event, activity, person, or organization financially or through the provision of products or services. The individual or group that provides the support, similar to a benefactor, is known as the sponsor.
The Kellogg School of Management at Northwestern University (Kellogg) is the business school of Northwestern University, a private research university in Evanston, Illinois. It was founded in 1908 as the School of Commerce. Its faculty, alumni, and students have made significant contributions to fields such as marketing, management sciences, and decision sciences.
The Amos Tuck School of Business Administration is the graduate business school of Dartmouth College, a private Ivy League research university in Hanover, New Hampshire. The school only offers a Master of Business Administration degree program.
A chief marketing officer (CMO), also called a global marketing officer or marketing director, or chief brand officer, is a corporate executive responsible for managing marketing activities in an organization. Whilst historically these titles may have signified a legal responsibility, for example at Companies House in the UK, the titles are less strict/formal in the 21st Century and allow companies to acknowledge the evolving and increasingly significant role that marketers can play in an organisation, not least because of the inherent character of successful marketers. The CMO leads brand management, marketing communications, market research, product marketing, distribution channel management, pricing, customer success, and customer service.
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."
Upselling is a sales technique where a seller invites the customer to purchase more expensive items, upgrades, or other add-ons to generate more revenue. While it usually involves marketing more profitable services or products, it can be simply exposing the customer to other options that were perhaps not considered. In practice, large businesses usually combine upselling and cross-selling to maximize revenue.
John Scott Armstrong was an author, forecasting and marketing expert, and an Emeritus Professor of Marketing at the Wharton School of the University of Pennsylvania. Armstrong's research and writing in forecasting promote the ideas that in order to maximize accuracy, forecasting methods should rely on evidence-based methods.
David Meerman Scott is an American online marketing strategist and author of several books on marketing, including The New Rules of Marketing and PR.
Founded in 1961, the Marketing Science Institute (MSI) is a corporate-membership-based organization. MSI claims to be unique as the only research-based organization with a network of marketing academics from business schools all over the world as well as marketing executives from 60+ leading companies.
Harold 'Hal' Sox is an Editor Emeritus of the Annals of Internal Medicine and member of the National Academy of Medicine. Sox was an associate editor of Scientific American Medicine, a consulting associate editor of The American Journal of Medicine and a member of the editorial boards of three medical journals, including The New England Journal of Medicine.
Precision marketing is a marketing technique that suggests successful marketing is to retain, cross-sell, and upsell existing customers.
