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Market Research
Market Research

... otherwise known as field research. • Secondary Research: this is information collected for a specific purpose by someone else, e.g. government statistics, trade publications and published academic research. This is known as desk research. ...
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... If we look at the potential for increasing returns, there is little doubt that there is a lot of room for improvement in marketing. In an area where the environment is conducive for producing 50 bushel per acre soybean yields, the average yield might be 45 bushels. That makes the average yield 90% o ...
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... Marketing has changed dramatically over the last decade. Marketing is all about communicating, and the Internet has completely changed the way people communicate. The Internet is a marketer's dream come true, especially with Social Media, as you have a low cost marketing tool that can reach a large ...
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Marketing mix modeling

Marketing mix modeling (MMM) is a term of art for the use of statistical analysis such as multivariate regressions on sales and marketing time series data to estimate the impact of various marketing tactics (marketing mix) on sales and then forecast the impact of future sets of tactics. It is often used to optimize advertising mix and promotional tactics with respect to sales revenue or profit.The techniques were developed by econometricians and were first applied to consumer packaged goods, since manufacturers of those goods had access to good data on sales and marketing support. The first companies dedicated to the commercial development of MMM were MMA (then Media Marketing Assessment) started in 1990 and the Hudson River Group founded in 1989. Other early pioneer-users of econometric modeling were the ATG group at the advertising agency JWT in the 1990s and later incorporated into MindShare ATG, BrandScience at Omnicom, and the specialist modeling agency OHAL since the late 1980s. These agencies took MMM from being a little-used and academic discipline to being a widespread and common marketing tool. Improved availability of data, massively greater computing power, and the pressure to measure and optimize marketing spend has driven the explosion in popularity as a marketing tool. In the recent times MMM has found acceptance as a trustworthy marketing tool among the major consumer marketing companies. Often in the digital media context, MMM is referred to as attribution modeling.
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