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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 prospect of expanding or modifying the marketing mix for services was a core discussion topic at the inaugural AMA Conference dedicated to Services Marketing in the early 1980s, and built on earlier theoretical works pointing to many important problems and limitations of the 4 Ps model. [20]
The traditional marketing mix refers to four broad levels of marketing decision, namely: product, price, promotion, and place. [19] When implemented successfully, these activities should deliver a firm's products or services to target consumers in a cost efficient manner. The four core marketing activities include: product, price, place and ...
Analysis techniques frequently used in marketing include marketing mix modeling, pricing and promotion analyses, sales force optimization and customer analytics, e.g., segmentation. Web analytics and optimization of websites and online campaigns now frequently work hand in hand with the more traditional marketing analysis techniques.
The "marketing mix" (also known as the four Ps) is a foundation concept in marketing and has defined the so-called managerial approach since the 1960s. The marketing mix or marketing program is understood to refer to the "set of marketing tools that the firm uses to pursue its marketing objectives in the target market". [40]
Market share analysis; Marketing accountability; Marketing effectiveness; Marketing engineering; Marketing exposure; Marketing information system; Marketing metric audit protocol; Marketing mix modeling; Marketing plan; Marketing science; Marketing spending; Mind share; Mission-driven marketing
A marketing decision support system (sometimes abbreviated MKDSS) is a decision support system for marketing activity. The system is used to help businesses explore different scenarios by manipulating already collected data from past events. It consists of information technology, marketing data, systems tools, and modeling capabilities that ...
The retail mix is loosely based on the marketing mix, but has been expanded and modified in line with the unique needs of the retail context. A number of scholars have argued for an expanded marketing, mix with the inclusion of two new Ps, namely, Personnel and Presentation since these contribute to the customer's unique retail experience and ...