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Marketing mix modeling (MMM) is an analytical approach that uses historic information to quantify impact of marketing activities on sales. Example information that can be used are syndicated point-of-sale data (aggregated collection of product retail sales activity across a chosen set of parameters, like category of product or geographic market) and companies’ internal data.
The BCG Matrix, a chart designed by Bruce Henderson for the Boston Consulting Group in 1968, may help corporations to analyze their business units or product lines. This helps the company allocate resources; brand marketing, product management, strategic management, and portfolio analysis can use it as an analytical tool.
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.
Comparison diagram or comparative diagram is a general type of diagram, in which a comparison is made between two or more objects, phenomena or groups of data. [1] A comparison diagram or can offer qualitative and/or quantitative information. This type of diagram can also be called comparison chart or comparison chart.
Marketing or product differentiation is the process of describing the differences between products or services, or the resulting list of differences. This is done in order to demonstrate the unique aspects of a firm's product and create a sense of value .
The razor and blades business model [1] is a business model in which one item is sold at a low price (or given away) in order to increase sales of a complementary good, such as consumable supplies. It is different from loss leader marketing and product sample marketing , which do not depend on complementary products or services.
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.
A data mart is a structure/access pattern specific to data warehouse environments. The data mart is a subset of the data warehouse that focuses on a specific business line, department, subject area, or team. [1] Whereas data warehouses have an enterprise-wide depth, the information in data marts pertains to a single department.