coming up with new commercial products to pursue Show
reducing the number of ideas to the most promising and working on those assessing the potential profitability of the product creating a prototype taking a product idea to consumers to test their reactions promoting a product to distributors, retailers, and consumers to gain wide interest and distribution in the product journal article BRANDAID: A Marketing-Mix Model, Part 1: StructureOperations Research Vol. 23, No. 4 (Jul. - Aug., 1975) , pp. 628-655 (28 pages) Published By: INFORMS https://www.jstor.org/stable/169847
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Abstract Marketing managers make decisions about price, advertising, promotion, and other marketing variables on the basis of factual data, judgments, and assumptions about how the market works. BRANDAID is a flexible, on-line model for assembling these elements to describe the market and evaluate strategies. This paper motivates the model and presents its mathematics. The structure is modular so that individual decision areas can be added or deleted at will. The model is of the aggregate response type, in which decision variables relate closely to specific sales performance measures. The major submodels are advertising, promotion, price, salesmen, and retail distribution. The advertising submodel employs a long-run sales response to advertising function and a linear lag process. Promotional effects are built up from a characteristic time pattern for the type of promotion and a response curve. Salesman affect sales through a response process structurally similar to that for advertising. Retail distribution variables are intermediaries that the company affects and that in turn affect customer response. Submodel outputs combine multiplicatively. Competition enters in a modular, symmetric way through a matrix of competitive coefficients that determine the source of sales for each brand as it seeks to increase its market position. Journal Information OR professionals in every field of study will find information of interest in this balanced, full-spectrum industry review. Essential reading for practitioners, researchers, educators and students of OR. Computing and decision technology Environment, energy and natural resources Financial services Logistics and supply chain operations Manufacturing operations Optimization Public and military services Simulation Stochastic models Telecommunications Transportation Publisher Information With over 12,500 members from around the globe, INFORMS is the leading international association for professionals in operations research and analytics. INFORMS promotes best practices and advances in operations research, management science, and analytics to improve operational processes, decision-making, and outcomes through an array of highly-cited publications, conferences, competitions, networking communities, and professional development services. Rights & Usage This item is part of a JSTOR Collection. What is the most difficult part of marketing mix?Product innovation, when you're creating new things, is the hardest part of marketing because it either succeeds or fails.
Which of the following is the least flexible component of the marketing mix?The least flexible variable in the marketing mix is probably distribution, because there are many moving pieces (transportation, warehousing, and handling materials) that go into distribution, and once a product is set up to be distributed to a certain place it is very difficult to get all of those moving pieces to a ...
Why is distribution place important in the marketing mix?This lesson revealed that place in marketing mix plays a major role in the distribution and flow of goods, because it ensures that the product is in the right place at the right time. Without proper product placement, customers are likely to look elsewhere for what they need or desire.
What are two reasons why distribution decisions are considered one of the least flexible marketing mix decisions quizlet?Distribution decisions are among the least flexible marketing mix decisions because they involve committing resources and establishing contractual relationships. They are difficult or impossible to change. -Channel A moves the product from the producer directly to the consumer.
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Why are distribution decisions considered one of the least flexible marketing mix decisions?
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