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The marketing mix is the set of controllable elements or variables ... approach that covered analysis, consumer behavior, ... the ease of buying the product, finding ...
Consumer behaviour is the study of individuals, groups, or organisations and all activities associated with the purchase, use and disposal of goods and services.It encompasses how the consumer's emotions, attitudes, and preferences affect buying behaviour.
As part of consumer behavior, the buying decision process is the decision-making process used by consumers regarding the market transactions before, during, and after the purchase of a good or service. It can be seen as a particular form of a cost–benefit analysis in the presence of multiple alternatives. [1] [2]
Marketing research is the systematic gathering, recording, and analysis of qualitative and quantitative data about issues relating to marketing products and services. The goal is to identify and assess how changing elements of the marketing mix impacts customer behavior .
Behavioral analytics utilizes the massive volumes of raw user event data captured during sessions in which consumers use application, game, or website, including traffic data like navigation path, clicks, social media interactions, purchasing decisions and marketing responsiveness.
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.
This approach enables store groups to be created based on actual consumer buying behaviors. After placing each store in a cluster, individual consumer-centric strategies can then be created to facilitate targeted marketing, advertising, merchandising, pricing, and promotion plans. In addition, once store groups are formed, retailers and ...
The AIDA marketing model is a model within the class known as hierarchy of effects models or hierarchical models, all of which imply that consumers move through a series of steps or stages when they make purchase decisions. These models are linear, sequential models built on an assumption that consumers move through a series of cognitive ...