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The marketing mix is the set of controllable elements or variables that a company uses to influence and meet the needs of its target customers in the most effective and efficient way possible.
Therefore, keeping tabs on industry competitors is vital for devising robust marketing plans. 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.
Effective frequency refers to the minimum number of media exposures in order to achieve a specified communication goal Effective reach refers to the reach (% of households or people) at the effective frequency level. Gross Ratings Points (GRPs) is defined as reach multiplied by frequency and is a measure of overall campaign weight or intensity
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.
Since reach is a time-dependent summary of aggregate audience behavior, reach figures are meaningless without a period associated with them: an example of a valid reach figure would be to state that "[example website] had a one-day reach of 1565 per million on 21 March 2004" (though unique users, an equivalent measure, would be a more typical ...
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.
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.
The use of the marketing mix programme will provide sufficient data and knowledge for appropriate marketing strategies to reach the specific target audience. Target marketing strategy can be segmentation: Market segmentation demonstrates dividing the market into distinct groups that may require different products or services (Kotler et al., 2014).