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Close range marketing, commonly referred to as CRM, is a form of proximity marketing.Close Range Marketing is an emerging technology that allows businesses to both promote goods and services and involve their customers in interacting with the business.
Bluetooth, a short-range wireless system supported by many mobile devices, is one transmission medium used for proximity marketing. The process of Bluetooth-based proximity marketing involves setting up Bluetooth "broadcasting" equipment at a particular location and then sending information which can be text, images, audio or video to Bluetooth enabled devices within range of the broadcast server.
There are several different degrees of incentive-compatibility: [4] The stronger degree is dominant-strategy incentive-compatibility (DSIC). [1]: 415 It means that truth-telling is a weakly-dominant strategy, i.e. you fare best or at least not worse by being truthful, regardless of what the others do.
Mobile marketing differs from most other forms of marketing communication in that it is often user (consumer) initiated (mobile originated, or MO) message, and requires the express consent of the consumer to receive future communications. A call delivered from a server (business) to a user (consumer) is called a mobile terminated (MT) message.
Business research confirms that firms rely highly on non-price strategies in competition. For example, in strategic management, areas of focus revolve around continuous innovation, synergism and long-term relationships that build sustainable businesses. [14] Similarly, in marketing, price is not only the only factor that affects the firm.
The Product Space is a network representation of the relatedness or proximity between products traded in the global market. The network exhibits heterogeneity and a core-periphery structure: the core of the network consists of metal products, machinery, and chemicals, whereas the periphery is formed by fishing, tropical, and cereal agriculture.
The Profit Impact of Market Strategy [1] (PIMS) program is a project that uses empirical data to try to determine which business strategies make the difference between success and failure. It is used to develop strategies for resource allocation and marketing. Some of the most important strategic metrics are market share, product quality ...
Overall, niche marketing is a great marketing strategy for firms, mainly small and medium-sized firms, as it is a specific and straightforward marketing approach. Once a firm's niche is identified, a team or marketers can then apply relevant marketing to satisfy that niche's wants and demands.