Identify and describe two possible challenges a marketer may face in developing marketing-mix models
What will be an ideal response?
One of the biggest challenges to overcome is establishing buy-in throughout the company for using marketing modeling. Modeling represents a change in the way information is collected and analyzed, as well as a change in how decisions are made. Having key players throughout an organization accept the modeling approach will ease the transition. Another challenge is finding a balance between creativity in the marketing mix strategy and a strict interpretation of the marketing-mix model output. Determining how to optimize the nontraditional marketing activities such as events, product placement, and social media can also present challenges.
You might also like to view...
Define general controls
. Which of the following is a business benefit of CSR?
a. decreased costs by reducing packaging, energy expenses, and shipping b. increased number of engaged customers c. improved public image d. all of these
What are the three levels of the generic project management maturity model and what are the characteristics of a company at each level? Provide examples of organizations at each of these levels and support your choices
What will be an ideal response?
Sarah has car insurance. While driving her automobile, Sarah negligently ran a red light and hit Vi's car. Which type of coverage will pay for the damage done to Vi's car?
A) liability insurance B) comprehensive insurance C) accident insurance D) uninsured motorist insurance