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Marketing and Sales Demands - Tailoring products to certain target markets requires increased administration efforts, thus a higher number of staffs required. [8] Higher Costs - Cost to customise and research into certain products in terms of a certain target market is expensive, as well as the increase number of staffs hired.
Web analytics is the measurement, collection, analysis, and reporting of web data to understand and optimize web usage. [1] Web analytics is not just a process for measuring web traffic but can be used as a tool for business and market research and assess and improve website effectiveness.
Secondary research is contrasted with primary research in that primary research involves the generation of data, whereas secondary research uses primary research sources as a source of data for analysis. [1] A notable marker of primary research is the inclusion of a "methods" section, where the authors describe how the data was generated.
The marketing mix has been defined as the "set of marketing tools that the firm uses to pursue its marketing objectives in the target market". [2] Marketing theory emerged in the early twenty-first century. The contemporary marketing mix which has become the dominant framework for marketing management decisions was first published in 1984. [3]
Marketing myopia is the tendency of businesses to define their market so narrowly as to miss opportunities for growth. It is suggested that businesses will do better in the long-term if they concentrate on improving the utility of a product or good, rather than just trying to sell their products.
"Youth Marketing" is a term used in the marketing and advertising industry to describe activities to communicate with young people, typically in the age range of 11 to 35. . More specifically, there is teen marketing, targeting people age 11 to 17, college marketing, targeting college-age consumers, typically ages 18 to 24, and young adult marketing, targeting ages 25 t
Visual marketing is the discipline studying the relationship between an object, the context it is placed in and its relevant image. Representing a disciplinary link between economy, visual perception laws and cognitive psychology, the subject mainly applies to businesses such as fashion and design.
Marketing management often implies market research and marketing research to perform a primary analysis. For this, a variety of techniques are implemented. Some of the most common ones include: Qualitative marketing research, such as focus groups and various types of interviews; Quantitative marketing research, such as statistical surveys