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What is marketing?

12/04/2022 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS
Marketing is the strategic planning and implementation of activities to attract and retain customers with the aim of generating a profit. It includes all activities aimed at developing, communicating and exchanging offers between companies and customers. These include, for example, positioning, pricing, product development, communication with customers, sales promotion and distribution.
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What are acquisition costs?

12/04/2022 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS
Acquisition costs are costs incurred in acquiring new customers. They include, among other things, costs for advertising, sales and marketing, but also costs for setting up customer service and support services.
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What is network marketing?

12/04/2022 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS
Network marketing is a form of direct marketing in which distributors sell products or services through referral marketing. These distributors are also referred to as multi-level marketing (MLM) because they extend through multiple levels of sellers. The distributor earns commissions when another distributor sells a product. Network marketing is an effective way to advertise and grow a business. It allows companies to build a broad customer base by marketing their products to a wide audience.
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What is marketing planning?

12/04/2022 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS
Marketing planning is a comprehensive process in which companies determine the strategies, objectives, and actions they want to use to achieve their business goals. It also includes analyzing the market and competition and developing a positioning strategy. Marketing planning components also include identifying target customers, determining pricing and promotion, and establishing a media plan.
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What are marketing measures?

12/04/2022 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS
Marketing measures are activities that a company undertakes to make its products or services known, attract customers and generate sales. These include advertising, public relations, social media, content marketing, search engine optimization, e-mail marketing, trade fairs and events.
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