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Marketing Engineering
Marketing engineering is currently defined as "a systematic approach to harness data and knowledge to drive effective marketing decision making and implementation through a technology-enabled and model-supported decision process". History The term ''marketing engineering'' can be traced back to Lilien et al. in "The Age of Marketing Engineering" published in 1998; in this article the authors define ''marketing engineering'' as the use of computer decision models for making marketing decisions. Marketing managers typically use "conceptual marketing", that is they develop a mental model of the decision situation based on past experience, intuition and reasoning. That approach has its limitations though: experience is unique to every individual, there is no objective way of choosing between the best judgments of multiple individuals in such a situation and furthermore judgment can be influenced by the person's position in the firm's hierarchy. In the same year Lilien G. L. and A. R ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Computer
A computer is a machine that can be Computer programming, programmed to automatically Execution (computing), carry out sequences of arithmetic or logical operations (''computation''). Modern digital electronic computers can perform generic sets of operations known as Computer program, ''programs'', which enable computers to perform a wide range of tasks. The term computer system may refer to a nominally complete computer that includes the Computer hardware, hardware, operating system, software, and peripheral equipment needed and used for full operation; or to a group of computers that are linked and function together, such as a computer network or computer cluster. A broad range of Programmable logic controller, industrial and Consumer electronics, consumer products use computers as control systems, including simple special-purpose devices like microwave ovens and remote controls, and factory devices like industrial robots. Computers are at the core of general-purpose devices ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Estimate
Estimation (or estimating) is the process of finding an estimate or approximation, which is a value that is usable for some purpose even if input data may be incomplete, uncertain, or unstable. The value is nonetheless usable because it is derived from the best information available.C. Lon Enloe, Elizabeth Garnett, Jonathan Miles, ''Physical Science: What the Technology Professional Needs to Know'' (2000), p. 47. Typically, estimation involves "using the value of a statistic derived from a sample to estimate the value of a corresponding population parameter".Raymond A. Kent, "Estimation", ''Data Construction and Data Analysis for Survey Research'' (2001), p. 157. The sample provides information that can be projected, through various formal or informal processes, to determine a range most likely to describe the missing information. An estimate that turns out to be incorrect will be an overestimate if the estimate exceeds the actual result and an underestimate if the estimate fa ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Value-in-use
Value-in-use is the net present value (NPV) of a cash flow or other benefits that an asset generates for a specific owner under a specific use. In the U.S., it is generally estimated at a use which is less than highest-and-best use, and therefore it is generally lower than market value. When a particular user enjoys special benefits, such as extraordinary financing, agglomeration benefits, or grandfathered zoning, then the value may be higher than market value, and the value is considered to be an investment value. International Valuation Standards The 2007 edition of International Valuation Standards (IVS 2007) re-states the International Financial Reporting Standards definition of 'value-in-use', which would allow for either a higher value than market value or a lower value than market value: :''Value in Use'' The present value of the future cash flows expected to be derived from an asset or a cash-generating unit. As defined in IVS2, investment value is the valuati ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Survey (human Research)
In Human subject research, research of human subjects, a survey is a list of questions aimed for extracting specific data from a particular group of people. Surveys may be conducted by phone, mail, via the internet, and also in person in public spaces. Surveys are used to gather or gain knowledge in fields such as social research and demography. Survey research is often used to assess thoughts, opinions and feelings. Surveys can be specific and limited, or they can have more global, widespread goals. Psychologists and sociologists often use surveys to analyze behavior, while it is also used to meet the more pragmatic needs of the media, such as, in evaluating political candidates, public health officials, professional organizations, and advertising and marketing directors. Survey research has also been employed in various medical and surgical fields to gather information about healthcare personnel’s practice patterns and professional attitudes toward various clinical problems an ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Customer Value
In management, business value is an informal term that includes all forms of value that determine the health and well-being of the firm in the long run. Business value expands concept of value of the firm beyond economic value (also known as economic profit, economic value added, and shareholder value) to include other forms of value such as employee value, customer value, supplier value, channel partner value, alliance partner value, managerial value, and societal value. Many of these forms of value are not directly measured in monetary terms. According to the Project Management Institute, business value is the "net quantifiable benefit derived from a business endeavor that may be tangible, intangible, or both." Business value often embraces intangible assets not necessarily attributable to any stakeholder group. Examples include intellectual capital and a firm's business model. The balanced scorecard methodology is one of the most popular methods for measuring and managing busin ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Profit (economics)
In economics, profit is the difference between revenue that an economic entity has received from its outputs and total costs of its inputs, also known as surplus value. It is equal to total revenue minus total cost, including both Explicit cost, explicit and implicit cost, implicit costs. It is different from accounting profit, which only relates to the explicit costs that appear on a firm's financial statements. An accountant measures the firm's accounting profit as the firm's total revenue minus only the firm's explicit costs. An Economists, economist includes all costs, both explicit and implicit costs, when analyzing a firm. Therefore, economic profit is smaller than accounting profit. ''Normal profit'' is often viewed in conjunction with economic profit. Normal profits in business refer to a situation where a company generates revenue that is equal to the total costs incurred in its operation, thus allowing it to remain operational in a competitive industry. It is the mi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Sales
Sales are activities related to selling or the number of goods sold in a given targeted time period. The delivery of a service for a cost is also considered a sale. A period during which goods are sold for a reduced price may also be referred to as a "sale". The seller, or the provider of the goods or services, completes a sale in an interaction with a ''buyer'', which may occur at the point of sale or in response to a purchase order from a customer. There is a passing of title (property or ownership) of the item, and the settlement of a price, in which agreement is reached on a price for which transfer of ownership of the item will occur. The ''seller'', not the purchaser, typically executes the sale and it may be completed prior to the obligation of payment. In the case of indirect interaction, a person who sells goods or service on behalf of the owner is known as a salesman or saleswoman or salesperson, but this often refers to someone selling goods in a store/shop, i ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Market Size
In economics, a market is a composition of systems, institutions, procedures, social relations or infrastructures whereby parties engage in exchange. While parties may exchange goods and services by barter, most markets rely on sellers offering their goods or services (including labour power) to buyers in exchange for money. It can be said that a market is the process by which the value of goods and services are established. Markets facilitate trade and enable the distribution and allocation of resources in a society. Markets allow any tradeable item to be evaluated and priced. A market emerges more or less spontaneously or may be constructed deliberately by human interaction in order to enable the exchange of rights (cf. ownership) of services and goods. Markets generally supplant gift economies and are often held in place through rules and customs, such as a booth fee, competitive pricing, and source of goods for sale (local produce or stock registration). Markets can differ ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Product Design
Product design is the process of creating new Product (business), products for businesses to sell to their customers. It involves the generation and development of ideas through a systematic process that leads to the creation of innovative products. Thus, it is a major aspect of new product development. ''Product design process:'' The product design process is a set of strategic and tactical activities, from idea generation to commercialization, used to create a product design. In a systematic approach, product designers conceptualize and evaluate ideas, turning them into tangible inventions and products. The product designer's role is to combine art, science, and technology to create new products that people can use. Their evolving role has been facilitated by Digital data, digital tools that now allow designers to do things that include communicate, visualize, analyze, 3D modeling and actually produce tangible ideas in a way that would have taken greater human resources in the p ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Advertising
Advertising is the practice and techniques employed to bring attention to a Product (business), product or Service (economics), service. Advertising aims to present a product or service in terms of utility, advantages, and qualities of interest to Consumer, consumers. It is typically used to promote a specific good or service, but there are a wide range of uses, the most common being commercial advertisement. Commercial advertisements often seek to generate increased Consumption (economics), consumption of their products or services through "Branding (promotional), branding", which associates a product name or image with certain qualities in the minds of consumers. On the other hand, ads that intend to elicit an immediate sale are known as Direct marketing, direct-response advertising. Non-commercial entities that advertise more than consumer products or services include Political party, political parties, Interest group, interest groups, Religious organization, religious o ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Price
A price is the (usually not negative) quantity of payment or compensation expected, required, or given by one party to another in return for goods or services. In some situations, especially when the product is a service rather than a physical good, the price for the service may be called something else such as "rent" or "tuition". Prices are influenced by production costs, supply of the desired product, and demand for the product. A price may be determined by a monopolist or may be imposed on the firm by market conditions. Price can be quoted in currency, quantities of goods or vouchers. * In modern economies, prices are generally expressed in units of some form of currency. (More specifically, for raw materials they are expressed as currency per unit weight, e.g. euros per kilogram or Rands per KG.) * Although prices could be quoted as quantities of other goods or services, this sort of barter exchange is rarely seen. Prices are sometimes quoted in terms of vouc ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Internet
The Internet (or internet) is the Global network, global system of interconnected computer networks that uses the Internet protocol suite (TCP/IP) to communicate between networks and devices. It is a internetworking, network of networks that consists of Private network, private, public, academic, business, and government networks of local to global scope, linked by a broad array of electronic, Wireless network, wireless, and optical networking technologies. The Internet carries a vast range of information resources and services, such as the interlinked hypertext documents and Web application, applications of the World Wide Web (WWW), email, electronic mail, internet telephony, streaming media and file sharing. The origins of the Internet date back to research that enabled the time-sharing of computer resources, the development of packet switching in the 1960s and the design of computer networks for data communication. The set of rules (communication protocols) to enable i ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
