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Marketing Plan ... To be most effective, the plan has to be formalized, usually in written form, as a formal "marketing plan." The essence of the process is that it moves from the general to the specific, from the vision to the mission to the goals to the corporate objectives of the organization, then down to the individual action plans for each part of the marketing program... Marketing planning aims and objectives Behind the corporate objectives, which in themselves offer the main context for the marketing plan, will lie the "corporate mission," which in turn provides the context for these corporate objectives... In a sales-oriented organization, the marketing planning function designs incentive pay plans to not only motivate and reward frontline staff fairly but also to align marketing activities with corporate mission...
Market Segmentation ... An ideal market segment meets all of the following criteria: It is internally homogeneous (potential customers in the same segment prefer the same product qualities). It is externally heterogeneous (potential customers from different segments have basically different quality preferences)...
Market Research ... Market research is a key factor to get advantage over competitors. Market research provides important information to identify and analyze the market need, market size and competition...
Business ... The major branches of management are financial management, marketing management, human resource management, strategic management, production management, operations management, service management and information technology management...
History Of Marketing ... The publication in 1976 of the book The History of Marketing Thought, by Robert Bartels marks a turning-point in marketing thought... Since then, academics specializing in marketing decided to imitate economics, distinguishing theory and practice... Two different fields of study emerged: the history of marketing thought, giving theoretical accounts marketing history, focusing on the history of marketing practice This division parallels the distinction between the history of economic thought and economic history...
Economic History Of China (1949–present) ... Analysts estimated that investment accounted for about 25 percent of GNP in 1979, a rate surpassed by few other countries. Because of the comparatively low level of GNP, however, even this high rate of investment secured only a small amount of resources relative to the size of the country and the population...
Marketing Research ... Marketing research is often partitioned into two sets of categorical pairs, either by target market: Consumer marketing research, and Business-to-business (B2B) marketing research Or, alternatively, by methodological approach: Qualitative marketing research, and Quantitative marketing research Consumer marketing research is a form of applied sociology that concentrates on understanding the preferences, attitudes, and behaviors of consumers in a market-based economy, and it aims to understand the effects and comparative success of marketing campaigns... The field of consumer marketing research as a statistical science was pioneered by Arthur Nielsen with the founding of the ACNielsen Company in 1923... Thus, marketing research may also be described as the systematic and objective identification, collection, analysis, and dissemination of information for the purpose of assisting management in decision making related to the identification and solution of problems and oppor...
Real Estate Appraisal ... International Valuation Standards (IVS) define: Market value - the estimated amount for which an asset or liability should exchange on the valuation date between a willing buyer and a willing seller in an arm's length transaction, after proper marketing and where the parties had each acted knowledgeably, prudently and without compulsion...
Insurance ... The transaction involves the insured assuming a guaranteed and known relatively small loss in the form of payment to the insurer in exchange for the insurer's promise to compensate (indemnify) the insured in the case of a financial (personal) loss. The insured receives a contract, called the insurance policy, which details the conditions and circumstances under which the insured will be financially compensated...
Societal Marketing ... Definition The societal marketing concept holds that the organization’s task is to determine the needs, wants, and interests of a target market and to deliver the desired satisfactions more effectively and efficiently than competitors in a way that preserves or enhances the consumer’s and the society’s well-being... Rather, marketing strategy should deliver value to customers in a way that maintains or improves both the consumer's and the society's well-being...
Real Estate Development ... Typically, developers purchase a tract of land, determine the marketing of the property, develop the building program and design, obtain the necessary public approval and financing, build the structure, and lease, manage, and ultimately sell it...
Market Liquidity ... An act of exchange of a less liquid asset with a more liquid asset is called liquidation. Liquidity also refers both to a business's ability to meet its payment obligations, in terms of possessing sufficient liquid assets, and to such assets themselves...
Marketing ... It can also be defined as "the process by which companies create value for customers and build strong customer relationships, in order to capture value from customers in return". This replaces the previous definition, which still appears in the AMA's dictionary: "an organizational function and a set of processes for creating, communicating, and delivering value to customers and for managing customer relationships in ways that benefit the organization and its stakeholders." It generates the strategy that underlies sales techniques, business communication, and business developments...
Life Insurance ... The advantage for the policy owner is "peace of mind", in knowing that the death of the insured person will not result in financial hardship for loved ones. Life policies are legal contracts and the terms of the contract describe the limitations of the insured events...
Market Environment ... It includes the company itself, its suppliers, marketing intermediaries, customer markets, competitors, and publics...