Cost per thousand (CPM) is a term used in online advertising to indicate the price an advertiser pays for 1,000 impressions of their ad. This cost is usually calculated on a per-campaign basis, and can be used to compare the relative cost-efficiency of different advertising platforms or strategies. CPM can be a useful metric for … Read more
Suggestive selling is a technique used by salespeople to encourage customers to buy additional items that complement the product they are already interested in. This can be done by suggesting items that go well together, or by upselling to a more expensive version of the same product. Suggestive selling can also be used to cross-sell … Read more
The term “soft sell” is used to describe a marketing or sales approach that is low-key and not pushy. It is the opposite of a hard sell, which is aggressive and high-pressure. Soft sell approaches are typically used when trying to build relationships with customers or when selling products or services that are not considered … Read more
How to Conduct Market Research and Types of Market Research. What are the 3 main types of market research? The three main types of market research are primary, secondary, and tertiary. Primary market research is data that is collected directly from customers through surveys, interviews, focus groups, or other methods. This type of research is … Read more
First Mover: What It Means and Its Advantages Is Tesla a first mover? Tesla Motors is not a first mover in the automobile industry. The company was founded in 2003, and the first Tesla car was not produced until 2008. The Tesla Roadster was the first mass-produced electric car to use lithium-ion battery cells and … Read more
Definition and examples of competitive pricing, including loss leaders. What brands use competitive pricing? There are many brands that use competitive pricing in order to gain market share and increase profits. Some of the most notable brands that use this pricing strategy include Walmart, Amazon, and Target. These brands are able to offer lower prices … Read more
The 4 Ps of Marketing: Product, Price, Place, and Promotion How is marketing mix used in business? The marketing mix is a tool that businesses use to plan and implement their marketing activities. It is a framework that businesses can use to ensure that all of their marketing activities are aligned with their overall business … Read more
A marketing plan is a comprehensive document or roadmap that outlines the advertising and marketing efforts for a company or individual. It covers everything from market research and target audience identification to media planning and budgeting. A well-crafted marketing plan should be based on a solid understanding of the customer base and the competitive landscape, … Read more
Comparative advertising is a type of advertising in which a company compares its product to that of another company in order to demonstrate its superiority. Comparative advertising often takes the form of television commercials, in which one company’s product is directly compared to another’s. Comparative advertising can be an effective way to convince consumers to … Read more
Brand management is the process of developing and managing the reputation and identity of a brand. The aim of brand management is to create a unique and differentiated brand that will resonate with the target audience and create an emotional connection. The brand management process involves creating a brand strategy, developing a brand identity, managing … Read more
