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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.
In today's competitive business environment, effective marketing strategies play a pivotal role in promoting products or services to target audiences. The advent of digital platforms has further intensified competition among businesses, making it imperative for companies to employ innovative and impactful marketing techniques.
The competitive parity method allocates the advertising or promotional budget based on competitive spending for comparable activities. This approach is a defensive strategy used to protect a brand market position. [92] It assumes that rival firms have similar objectives and is widely used in highly competitive markets.
Marketing Power defines it as "An advertiser's determination of the optimum number of exposure opportunities required to effectively convey the advertising message to the desired audience or target market." [12] John Philip Jones says, "Effective frequency can mean that a single advertising exposure is able to influence the purchase of a brand.
CPC advertising works well when advertisers want visitors to their sites, but it's a less accurate measurement for advertisers looking to build brand awareness. [77] CPC's market share has grown each year since its introduction, eclipsing CPM to dominate two-thirds of all online advertising compensation methods. [30]: 18 [76]: 1
Advertising research is a specialized form of research that works to improve the effectiveness and efficiency of advertising. It entails numerous forms of research which employ different methodologies. Advertising research includes pre-testing (also known as copy testing) and post-testing of ads and/or campaigns.
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