The Artistic Components of Marketing: Ever heard of the phrase, it’s a dream come true? Or just what I imagined? Whether you accept it or not, the power of imagination does make a difference. The question here is where does the power of imagination come from? It comes from creativity that exists within your mind. Creativity is the first artistic component of marketing. It requires you to be very imaginative and it also requires you to have the ability of transforming your imaginations intro reality through marketing strategies. The second artistic component of marketing is persuasiveness which is the power of convincing. You need to possess an extremely good convincing power if you want to sell your product or service. Hence, it wouldn’t be wrong to say that persuasiveness is the key to the success of your business’s sales. The third artistic component of marketing is observation. You need to be a shrewd observer to succeed at your marketing efforts. Being an observer will help you analyze and evaluate the market techniques that other companies are using. It will also help you in predicting any marketing attacks that your competitors might be planning on you!
The Scientific Components of Marketing: Marketing commences by conducting a research. Hence research is the first scientific component of marketing. It helps determine whether the need for your product or service exists in the market or not which further helps you decide whether you should launch the product or service in consideration or not. The second scientific component of marketing is marketing modeling. Marketing modeling is about creating a model of your marketing strategies. Trend forecasting or predictive analytics is also one of the key scientific components of marketing. It helps you in forecasting the demand of your products in a certain time period. Another scientific component of Marketing is the use of different marketing metrics. Most of you will be familiar with different types of marketing metrics. Through marketing metrics you can evaluate the performance of your marketing activities and strategies. There are different types of metrics available, search the internet for a few examples and you will have a better understanding of marketing metrics. Customer database operations (CDO) contribute to another scientific component of marketing. It is a component related more the operational side. Lastly, all the frameworks and the models of decision making that are used for the purpose of conducting marketing activities contribute to the scientific components of marketing.
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