GK
MARKETING MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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because the lecture said so
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because I want it
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because it’s important when you’re trying to maintain a market
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because it isn’t important when you’re trying to maintain a market
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Detailed explanation-1: -Marketing mix modeling (MMM) is a time-tested method for measuring the impact of your marketing. It’s how many leading brands figure out what’s working across different channels, and it’s a crucial tool for guiding budget decisions.
Detailed explanation-2: -Doing this can help you better understand your customers, an important part of growing your business. Identifying and narrowing in on your target market segments can help you create and launch effective promotions, which could increase your sales.
Detailed explanation-3: -Marketing management helps to prepare future course of action. Planning relates to product introduction, diversification. Decision making regarding pricing, selection of promotional mix, selection of distribution channel is taken by the marketing management.
Detailed explanation-4: -Marketing management is especially important for smaller businesses because it gives them a level footing to compete with larger players in the field. Thorough customer research, creative campaigns and marketing strategies and positive branding can go a long way in providing a brand with an edge over its competition.