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BOD test bottles at the laboratory of a wastewater treatment plant. Biochemical oxygen demand (also known as BOD or biological oxygen demand) is an analytical parameter representing the amount of dissolved oxygen (DO) consumed by aerobic bacteria growing on the organic material present in a water sample at a specific temperature over a specific time period.
The business model canvas is a strategic management template used for developing new business models and documenting existing ones. [2] [3] It offers a visual chart with elements describing a firm's or product's value proposition, [4] infrastructure, customers, and finances, [1] assisting businesses to align their activities by illustrating potential trade-offs.
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.
[citation needed] Developed for the measurement of advertising effectiveness, it maps the states of mind that a consumer passes through. Carol Kopp from Investopedia.com, describes the process entailing the DAGMAR model to also require, "an evaluation of the campaign's success against a pre-set benchmark."
This is a sophisticated metric that balances marketing and business analytics and is used increasingly by many of the world's leading organizations (Hewlett-Packard and Procter & Gamble to name two) to measure the economic (that is, cash-flow derived) benefits created by marketing investments. For many other organizations, this method offers a ...
The marketing profession has long relied on data. But as the data flood gets bigger, progressive marketers are turning to big data analysis methods as well as systematic observation, testing and measurement to study broad behavioral patterns, drill down from the aggregate to the individual and produce new insights that improve business outcomes.
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Marketing Strategy: Improving marketing effectiveness can be achieved by employing a superior marketing strategy. By positioning the product or brand correctly, the product/brand will be more successful in the market than competitors’ products/brands.