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In marketing, geomarketing (also called marketing geography) is a discipline that uses geolocation (geographic information) in the process of planning and implementation of marketing activities. [1] It can be used in any aspect of the marketing mix — the product, price, promotion, or place ( geo targeting ).
There are also many different types of geodata, including vector files, raster files, geographic databases, web files, and multi-temporal data. Spatial data or spatial information is broader class of data whose geometry is relevant but it is not necessarily georeferenced , such as in computer-aided design (CAD), see geometric modeling .
According to the marketing principle K = 3, the market area of a higher-order place (node) occupies one-third of the market area of each of the consecutive lower size place (node) that lies on its neighbour; the lower size nodes (6 in numbers and second larger circles) are located at the corner of a largest hexagon around low value the high ...
For example, one paper proposed an amended version of Tobler's first law of geography, referred to in the text as the Tobler–von Thünen law, [50] which states: "Everything is related to everything else, but near things are more related than distant things, as a consequence of accessibility." [Note 1] [50]
A sales territory is the customer group or geographical area for which an individual salesperson or a sales team holds responsibility. Territories can be defined on the basis of geography, sales potential, history, or a combination of factors. Companies strive to balance their territories because this can reduce costs and increase sales. [1]
In geography and particularly in geographic information science, a geographic feature or simply feature (also called an object or entity) is a representation of phenomenon that exists at a location in the space and scale of relevance to geography; that is, at or near the surface of Earth.
A business cluster is a geographic concentration of interconnected businesses, suppliers, and associated institutions in a particular field. Clusters are considered to increase the productivity with which companies can compete, nationally and globally. Accounting is a part of the business cluster.
Market segmentation is the process of dividing mass markets into groups with similar needs and wants. [2] The rationale for market segmentation is that in order to achieve competitive advantage and superior performance, firms should: "(1) identify segments of industry demand, (2) target specific segments of demand, and (3) develop specific 'marketing mixes' for each targeted market segment ...