Your Questions About Direct Marketing Definition

Jere answers:

->Definition: a.the act or process of selling or purchasing in a market
b.the process of technique of promoting, selling, and distributing a product or service
c.an aggregate of functions involved in moving goods from producer to consumer
->The first know use of marketing was in 1561.

->Some types include: Direct marketing (is a form of advertising that reaches its audience without using traditional formal channels of advertising, such as TV, newspapers or radio), Multi-level marketing (marketing strategy in which the sales force is compensated not only for sales they personally generate, but also for the sales of others they recruit, creating a downline of distributors and a hierarchy of multiple levels of compensation.), global Marketing (The Oxford University Press defines global marketing as “marketing on a worldwide scale reconciling or taking commercial advantage of global operational differences, similarities and opportunities in order to meet global objectives.”), internet marketing (also known as digital, web, online, or e-marketing) (is the marketing (generally promotion) of products or services over the Internet.), etc.

->Marketing is the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large. It generates the strategy that underlies sales techniques, business communication, and business developments. It is an integrated process through which companies build strong customer relationships and create value for their customers and for themselves.

->Promotional content include: Advertising • Branding • Underwriting • Direct marketing • Personal Sales Product Placement • Publicity Sales Promotion • Loyalty marketing • Premiums • Prizes
->Promotional Media Include: Printing • Publication Broadcasting • Out-of-home • Internet marketing • Point of sale • Promotional merchandise • Digital marketing • In-game In-store demonstration • Word-of-mouth marketing • Brand Ambassador • Drip Marketing

->A formal approach to this customer-focused marketing is known as SIVA[11] (Solution, Information, Value, Access). This system is basically the four Ps renamed and reworded to provide a customer focus. The SIVA Model provides a demand/customer-centric alternative to the well-known 4Ps supply side model (product, price, placement, promotion) of marketing management.
Product?Solution
Price?Value
Place?Access
Promotion?Information

->Marketing research involves conducting research to support marketing activities, and the statistical interpretation of data into information.
->Types of marketing research
Marketing research, as a sub-set aspect of marketing activities, can be divided into the following parts:
Primary research (also known as field research), which involves the conduction and compilation of research for a specific purpose.
Secondary research (also referred to as desk research), initially conducted for one purpose, but often used to support another purpose or end goal.

Marketing management can also rely on various technologies within the scope of its marketing efforts. Computer-based information systems can be employed, aiding in better processing and storage of data. Marketing researchers can use such systems to devise better methods of converting data into information, and for the creation of enhanced data gathering methods. Information technology can aid in enhancing an MKIS’ software and hardware components, and improve a company’s marketing decision-making process.

Services marketing relates to the marketing of services, as opposed to tangible products. A service (as opposed to a good) is typically defined as follows:
The use of it is inseparable from its purchase (i.e., a service is used and consumed simultaneously)
It does not possess material form, and thus cannot be touched, seen, heard, tasted, or smelled.
The use of a service is inherently subjective, meaning that several persons experiencing a service would each experience it uniquely.

Hope That Helps!!

Jere answers:

Hi,
There are many web definitions of marketing like:
–The all-embracing function that links the business with customer needs and wants in order to get the right product to the right place at the right time
–The achievement of corporate goals through meeting and exceeding customer needs better than the competition
–The management process that identifies, anticipates and supplies customer requirements efficiently and profitably
–Marketing may be defined as a set of human activities directed at facilitating and consummating exchanges

Marketing is used to identify the customer, satisfy the customer, and keep the customer. With the customer as the focus of its activities, it can be concluded that marketing management is one of the major components of business management.

In short, every activity we do, can be considered as a part of marketing.

Jere answers:

It means that the firm contact the end consumer directly.
While usually, the firms need to deal with wholesalers & retailers in direct marketing they reach the consumer.
Another thing – direct marketing is usually personalized – for example personalized mail (while TV on the other hand is not direct since it is not personalized – yet)

Other activities under this definition are :
1. 1 to 1 sampling activities.
2. Direct mailing.
3. Door 2 door sales.

Jere answers:

MARCOM is a marketing term. Definition below;

Marketing communication (or marcom) consists of the messages and related media used to communicate with a market. Those who practice advertising, branding, direct marketing, graphic design, marketing, packaging, promotion, publicity, public relations, sales, sales promotion and online marketing are termed marketing communicators, marketing communication managers, or more briefly as marcom managers.

Traditionally, marketing communication practitioners focus on the creation and execution of printed marketing collateral; however, academic and professional research developed the practice to use strategic elements of branding and marketing in order to ensure consistency of message delivery throughout an organization. Many trends in business can be attributed to marketing communication; for example: the transition from customer service to customer relations, and the transition from human resources to human solutions. In branding, opportunities to contact stakeholders are called brand touchpoints (or points of contact.) Marketing communication is concerned with the general behavior of an organization and the perceptions of the organization that are promoted to stakeholders through these touchpoints.

Integrated Marketing Communication is accepted as a goal of a marketing communication strategy.

Jere answers:

Marketing:

There are many different definitions of marketing. Consider some of the following alternative definitions:

“The all-embracing function that links the business with customer needs and wants in order to get the right product to the right place at the right time”

“The achievement of corporate goals through meeting and exceeding customer needs better than the competition”

“The management process that identifies, anticipates and supplies customer requirements efficiently and profitably”

“Marketing may be defined as a set of human activities directed at facilitating and consummating exchanges”

Which definition is right? In short, they all are. They all try to embody the essence of marketing:

• Marketing is about meeting the needs and wants of customers;
• Marketing is a business-wide function – it is not something that operates alone from other business activities;
• Marketing is about understanding customers and finding ways to provide products or services which customers demand

Business managment:

Benchmarking is the process of determining who is the very best, who sets the standard, and what that standard is. In baseball, you could argue that seven consecutive World Series Championships made the New York Yankees the benchmark.
If we were to benchmark “world conquest”, what objective measure would we use to compare Julius Caesar to Adolph Hitler; Gengis Khan to Napoleon? Which of them was the epitome, and why?

We do the same thing in business. Who is the best sales organization? The most responsive customer service department? The leanest manufacturing operation? And how do we quantify that standard?

Accounting:

It is not easy to provide a concise definition of accounting since the word has a broad application within businesses and applications.

The American Accounting Association define accounting as follows:

“the process of identifying, measuring and communicating economic information to permit informed judgements and decisions by users of the information!.

This definition is a good place to start. Let’s look at the key words in the above definition:

– It suggests that accounting is about providing information to others. Accounting information is economic information – it relates to the financial or economic activities of the business or organisation.

– Accounting information needs to be identified and measured. This is done by way of a “set of accounts”, based on a system of accounting known as double-entry bookkeeping. The accounting system identifies and records “accounting transactions”.

– The “measurement” of accounting information is not a straight-forward process. It involves making judgements about the value of assets owned by a business or liabilities owed by a business. It is also about accurately measuring how much profit or loss has been made by a business in a particular period. As we will see, the measurement of accounting information often requires subjective judgement to come to a conclusion

– The definition identifies the need for accounting information to be communicated. The way in which this communication is achieved may vary. There are several forms of accounting communication (e.g. Annual report and accounts, management accounting reports) each of which serve a slightly different purpose. The communication need is about understanding who needs the accounting information, and what they need to know!

Accounting information is communicated using “financial statements”

What is the purpose of financial statements?

There are two main purposes of financial statements:

(1) To report on the financial position of an entity (e.g. A business, an organisation);

(2) To show how the entity has performed (financially) over a particularly period of time (an “accounting period”).

The most common measurement of “performance” is profit.

It is important to understand that financial statements can be historical or relate to the future