If you can predict future market demand, you can to be millionaire. That is right if your prediction is right and you can serve competitively the demand. So, you can easily amplify your sales. That is why market prediction is important to build the business.
In this article you get explanation what is marketing model and how it work marketing and why it is important to predict.
First, we’re going to be talking about what is mathematics model.
Next, we’re going to be talking about marketing model history.
Finally, we’re going to finish up with what you can do, even you have no big money.
After reading this article, you’ll be able to understand marketing model to amplify sale and also grow your business.
“First, let’s talk about definition of marketing model. Marketing model is marketing optimization by measure factor that affect to sales. It is identify and measure factor-factor that
have a relation to sales. Marketing use internal data or marketing mix, like variation of products type, price, place, and promotion channel. Then marketer also test kind of target market. Then marketer simulate product test and multiple variation input. Which one/or more composition that are better? Which one that are best performance. The greater data about market or long time data that acquire, more accurate result will be. Marketer also create new one based on the data. In concise, the marketing model is a mathematics model that optimize marketing factor that related to sales.
The factors that affect to sales is not only in marketing division, but also in all aspect in the company and also market factors.
Marketing Model in History
“Next, let’s talk about history to marketing model. Institution is one of historical power. In the 1961, Marketing Science is founded in America. That is 15 after world war II, when production was overload, and they think how to sell. The institution help to build study and research about marketing. Frass Bass create marketing model that predict market demand. That is great invention about how scientific method contribute to marketing. Then complex measurement of consumer decision making is created, at 1970. That is time, where sociology and psychology contribute to consumer behavior. The study said that social affiliation, social role and social profile and psychology profile can contribute to purchasing decision. In 1980, supermarket using barcode scanner to detect quickly purchasing behavior. They also collect cunsumer data. They offer discount for customer that agree to collect the data. When supermarket can get the customer purchasing quickly, they also can learn about pattern of consumer behaviour. In 1982, Marketing Science journal devote to create mathematical models to predict and to understand consumer behaviour. Then next 8 years later, business intelligence that using big data, neural network, and algorithm using data to predict and search most profitable market. It also help to optimize marketing program.
So there you already learn about marketing model to amplify sales. Marketing model is a mathematic model to optimize sales by using data that related to sales. This idea start since 1960, and it has been grown in internet era. We can also use this method by using facebook ads and google ads. Now you’ll be able to understand, how to amplify sales by using marketing models.
Marketing Model for Low Budget
“Finally, let’s talk about marketing model for low budget. Low budget can use marketing model to help marketing program. We can use big data and optimize marketing program. How? We can try facebook ads and also google ads. In the platform, we can set target market, by geography, demography and psychography. Then, we can test several market, which best market for certain products. We can test multiple products for one target market. We also can test one product to multiple target market. Multiple products for multiple market market. We can close bad performance advertising, products, and keep good performance target market or products.
Marketing model will test which most profitable target market.