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Knowledge-based decision making model [1] Knowledge-Based Decision-Making (KBDM) in management is a decision-making process [2] that uses predetermined criteria to measure and ensure the optimal outcome for a specific topic. KBDM is used to make decisions by establishing a thought process and reasoning behind a decision. [3]
The purpose of a promotion and thus its promotional plan can have a wide range, including: sales increases, new product acceptance, creation of brand equity, positioning, competitive retaliations or creation of a corporate image. [2] The term 'promotion' tends to be used internally by the marketing function.
These are frequent, low-risk purchases, generally of a low or medium cost in which choices are made more on affective (or emotion-based) values rather than cognitive (or rational) values. Because of this, marketing messages will employ more storytelling and imagery, focusing on how the product or service makes one feel, and the associations it ...
The key to deliver high perceived value is attaching value to each of the individuals or organizations—making them believe that what you are offering is beyond expectation—helping them to solve a problem, offering a solution, giving results, and making them happy. Value changes based on time, place and people in relation to changing ...
A marketing mix is a foundational tool used to guide decision making in marketing. The marketing mix represents the basic tools that marketers can use to bring their products or services to the market. They are the foundation of managerial marketing and the marketing plan typically devotes a section to the marketing mix.
Advertising management is a complex process that involves making many layered decisions including developing advertising strategies, setting an advertising budget, setting advertising objectives, determining the target market, media strategy (which involves media planning), developing the message strategy, and evaluating the overall ...
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