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Marketing strategy refers to efforts undertaken by an organization to increase its sales and achieve competitive advantage. [1] In other words, it is the method of advertising a company's products to the public through an established plan through the meticulous planning and organization of ideas, data, and information.
These are personal selling, advertising, sales promotion, direct marketing, publicity, word of mouth and may also include event marketing, exhibitions and trade shows. [2] A promotional plan specifies how much attention to pay to each of the elements in the promotional mix, and what proportion of the budget should be allocated to each element.
The AIDA marketing model is a model within the class known as hierarchy of effects models or hierarchical models, all of which imply that consumers move through a series of steps or stages when they make purchase decisions. These models are linear, sequential models built on an assumption that consumers move through a series of cognitive ...
Steve Jobs's marketing skills have been credited for reviving Apple Inc. and turning it into one of the most valuable brands. [1] [2] Marketing is the act of satisfying and retaining customers. [3] It is one of the primary components of business management and commerce. [4] Marketing is typically conducted by the seller, typically a retailer or ...
Marketing ethics is an area of applied ethics which deals with the moral principles behind the operation and regulation of marketing. Some areas of marketing ethics (ethics of advertising and promotion ) overlap with media and public relations ethics .
A marketing plan is a plan created to accomplish specific marketing objectives, outlining a company's advertising and marketing efforts for a given period, describing the current marketing position of a business, and discussing the target market and marketing mix to be used to achieve marketing goals.
This concept contains the five principles: consumer-oriented marketing, innovative marketing, value marketing, sense-of-mission marketing and societal marketing. [1] In consumer-oriented marketing, the company "organizes its marketing activities from the consumer's point of view." Marketing activities focus on the needs of a defined user set. [1]
Also the co-creation marketing of a company and consumers are contained in the co-marketing. Co-marketing (or collaborative marketing) is a marketing practice where two companies cooperate with separate distribution channels, sometimes including profit sharing. It is frequently confused with co-promotion. Also commensal (symbiotic) marketing is ...