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Marketing Effectiveness
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). Marketing expert Tony Lennon believes marketing effectiveness is quintessential to marketing, going so far as to say ''It's not marketing if it's not measured.'' History The concept of marketing effectiveness first came to prominence in the 1990s with the publication of Robert Shaw's ''Improving Marketing Effectiveness'' which won the 1998 Business Management Book of the Year Award. In the book ''What Sticks'' (), authors Rex Briggs and Greg Stuart calculated that marketers waste 37% of their marketing investment. Reasons for the waste include failure to understand underlying customer motivations for buying, ineffective messages, and inefficient media mix investment (pg 19–20). ''Wha ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Go To Market
Go-to-market or go-to-market strategy is the plan of an organization, utilizing their outside resources (e.g. sales force and distributors), to deliver their unique value proposition to customers and achieve competitive advantage. The end goal is to enhance the overall customer experience by offering a superior product and/or more competitive pricing. Developing a go-to-market strategy In the earliest stages of developing a go-to-market strategy for a new product or a service, the company has to initially conduct an accurate definition of the target market. The company has to decide whether they already have prospective customers within their customer base but using different services. After defining the market, the product or service is researched until a final decision has been made on what the value proposition will be. Then the company determines its pricing strategy. It is very challenging to decide what pricing strategy to follow as it differs from one product or service ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
AFLAC
Aflac Inc. (American Family Life Assurance Company) is an American insurance company and is the largest provider of supplemental insurance in the United States. The company was founded in 1955 and is based in Columbus, Georgia. In the U.S., Aflac underwrites a wide range of insurance policies, but is perhaps more known for its payroll deduction insurance coverage, which pays cash benefits when a policyholder has a covered accident or illness. The company states it "provides financial protection to more than 50 million people worldwide". In 2009, Aflac acquired Continental American Insurance Company for $100 million; this enabled Aflac to sell supplemental insurance on both the individual and group platform. , Aflac was represented by approximately 19,300 sales agencies in Japan, and 76,900 licensed sales associates in the U.S. History The company was founded by brothers John, Paul (died 2014), and William Amos in Columbus, Georgia, in 1955, as American Family Life Insurance ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Richard Laermer
Richard Laermer (born September 16, 1961 in Queens, New York) is the author of eight books and CEO of RLM Public Relations, a PR firm he founded in 1991. He lived in New York, Connecticut, and La Quinta, California. Laermer's book ''Full Frontal PR'' has been used as a text in public relations courses at universities including Georgia Southern, and he is quoted as a reference on marketing effectiveness, marketing strategy, consumerism, advertising and "no comment." Laermer's ''Native's Guide to New York'' was called a "top three NYC guide" by the '' Guardian''. In 2007, Laermer was inducted into the ''PR News'' Hall of Fame. Bibliography * 2011: Trendspotting for the Next Decade (2008; McGraw-Hill) * Punk Marketing: Get Off Your Ass and Join the Revolution, co-authored with Mark Simmons (author) (2007; HarperCollins) (2009) * Full Frontal PR: Building Buzz About Your Business, Your Product, or You (2003; Bloomberg Press) (2004) * Native's Guide to New York: Advice With Attit ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Ambler, Tim
Tim Ambler (born 1937) is a British organizational theorist, author and academic on the field of Marketing effectiveness. Ambler featured on Marketing's list of the 100 most powerful figures in the industry. He is cited by the Chartered Institute of Marketing as one of the top 50 marketing experts in the world Life and career Ambler was educated at Oxford University (MA in mathematics) and the MIT Sloan School of Management (SM in marketing). Before becoming an academic, Ambler spent some 30 years in business, initially as an accountant, switching to marketing, and his knowledge of the two fields enabled him to develop new approaches to marketing effectiveness and accountability. As marketing director for International Distillers and Vintners (IDV) he was associated with the development of Bailey's Irish Cream, Le Piat d'Or, Smirnoff Vodka and Croft Sherry.Tim Ambler (1996) ''The financial times guide to marketing: from advertising to zen''. Pitman Pub., 1 May 1996. p. v More re ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Media Intelligence
Media intelligence uses data mining and data science to analyze public, social and editorial media content. It refers to marketing systems that synthesize billions of online conversations into relevant information. This allow organizations to measure and manage content performance, understand trends, and drive communications and business strategy. Media intelligence can include software as a service using big data terminology. This includes questions about messaging efficiency, share of voice, audience geographical distribution, message amplification, influencer strategy, journalist outreach, creative resonance, and competitor performance in all these areas. Media intelligence differs from business intelligence in that it uses and analyzes data outside company firewalls. Examples of that data are user-generated content on social media sites, blogs, comment fields, and wikis etc. It may also include other public data sources like press releases, news, blogs, legal filings, rev ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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 position in the firm's hierarchy. In the same year Lilien G. L. and A. Ranga ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Brand Management
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. Definitions In 2001, Hislop defined branding as "the process of creating a relationship or a connection between a company's product and emotional perception of the customer for the purpose of generating segregation among competiti ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Brand
A brand is a name, term, design, symbol or any other feature that distinguishes one seller's good or service from those of other sellers. Brands are used in business, marketing, and advertising for recognition and, importantly, to create and store value as brand equity for the object identified, to the benefit of the brand's customers, its owners and shareholders. Brand names are sometimes distinguished from Generic brand, generic or store brands. The practice of branding - in the original literal sense of marking by burning - is thought to have begun with the ancient Egyptians, who are known to have engaged in livestock branding as early as 2,700 BCE. Branding was used to differentiate one person's cattle from another's by means of a distinctive symbol burned into the animal's skin with a hot branding iron. If a person stole any of the cattle, anyone else who saw the symbol could deduce the actual owner. The term has been extended to mean a strategic personality for a produ ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Marketing Management
Marketing management is the Organizational studies, 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. Structure Marketing management employs tools from economics and competitive strategy to analyze the industry context in which the firm operates. These include Porter 5 forces analysis, Porter's five forces, analysis of strategic groups of competitors, value chain analysis and others. In competitor analysis, marketers build detailed profiles of each competitor in the market, focusing on their relative competitive strengths and weaknesses using SWOT analysis. Marketing managers will examine each competitor's cost structure, sources of profits, resources and competencies, competitive Positioning (marketing), positioning and product differentiation, degree of vertical integration, historical responses to ind ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Groundswell (Book)
''Groundswell'' is a book by Forrester Research executives Charlene Li and Josh Bernoff that focuses on how companies can take advantage of emerging social technologies. It was published in 2008 by Harvard Business Press. A revised edition was published in 2011. The book attempts to explain a shift in the relationship between customers and companies, in which companies are no longer able to control customers' attitudes through market research, customer service, and advertising. Instead, customers are controlling the conversation by using new media to communicate about products and companies. Synopsis The groundswell is characterized by several tactics that guide companies into using social technologies strategically and effectively. #Listening: Businesses should listen to their customers to understand what the market is looking for in their products. In order to do this, a company needs to find out if their customers are using social technologies and how they are using them. ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Marketing
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 (such as the Agricultural Marketing Servic ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Marketing Strategy
Marketing strategy allows organizations to focus limited resources on best opportunities to increase sales and achieve a competitive advantage in the market. Strategic marketing emerged in the 1970s/80s as a distinct field of study, further building on strategic management. Marketing strategy highlights the role of marketing as a link between the organization and its customers, leveraging the combination of resources and capabilities within an organization to achieve a competitive advantage (Cacciolatti & Lee, 2016). Marketing management versus marketing strategy The distinction between "strategic" and "managerial" marketing is used to distinguish "two phases having different goals and based on different conceptual tools. Strategic marketing concerns the choice of policies aiming at improving the competitive position of the firm, taking account of challenges and opportunities proposed by the competitive environment. On the other hand, managerial marketing is focused on the implem ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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