Marketin research paper

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Marketin research paper

History[ edit ] A frequency distribution with a long tail[ which? The total sales of this large number of "non-hit items" is called "the long tail".

Given enough choice, a large population of customers, and negligible stocking and distribution costs, the selection and buying pattern of the population results in the demand across products having a power law distribution or Pareto distribution. It is important to understand why some distributions are normal vs.

Chris Anderson argues that while quantities such as human height or IQ follow a normal distribution, in scale-free networks with preferential attachmentspower law distributions are created, i. In other words, whereas traditional retailers have focused on the area to the left of the chart, online bookstores derive more sales from the area to the right.

In "long-tailed" distributions a high-frequency or high-amplitude population is followed by a low-frequency or low-amplitude population which gradually "tails off" asymptotically.

The events at the far end of the tail have a very low probability of occurrence. Power law distributions or functions characterize an important number of behaviors from nature and human endeavor. This fact has given rise to a keen scientific and social interest in such distributions, and the relationships that create them.

The observation of such a distribution often points to specific kinds of mechanisms, and can often indicate a deep connection with other, seemingly unrelated systems. Examples of behaviors that exhibit long-tailed distribution are the occurrence of certain words in a given language, the income distribution of a business or the intensity of earthquakes see: Chris Anderson 's and Clay Shirky 's articles highlight special cases in which we are able to modify the underlying relationships and evaluate the impact on the frequency of events.

In those cases the infrequent, low-amplitude or low-revenue events — the long tail, represented here by the portion of the curve to the right of the 20th percentile — can become the largest area under the line. This suggests that a variation of one mechanism internet access or relationship the cost of storage can significantly shift the frequency of occurrence of certain events in the distribution.

The shift has a crucial effect in probability and in the customer demographics of businesses like mass media and online sellers. However, the long tails characterizing distributions such as the Gutenberg—Richter law or the words-occurrence Zipf's lawand those highlighted by Anderson and Shirky are of very different, if not opposite, nature: Anderson and Shirky refer to frequency-rank relations, whereas the Gutenberg—Richter law and the Zipf's law are probability distributions.

Marketin research paper

Therefore, in these latter cases "tails" correspond to large-intensity events such as large earthquakes and most popular words, who dominate the distributions. By contrast, the long tails in the frequency-rank plots highlighted by Anderson and Shirky would rather correspond to short tails in the associated probability distributions, and therefore illustrate an opposite phenomenon compared to the Gutenberg—Richter and the Zipf's laws.

Chris Anderson and Clay Shirky[ edit ] Use of the phrase the long tail in business as "the notion of looking at the tail itself as a new market" of consumers was first coined by Chris Anderson.

Anderson described the effects of the long tail on current and future business models beginning with a series of speeches in early and with the publication of a Wired magazine article in October Anderson later extended it into the book The Long Tail: Anderson argues that products in low demand or that have a low sales volume can collectively make up a market share that rivals or exceeds the relatively few current bestsellers and blockbusters, if the store or distribution channel is large enough.

Smiththat showed that a significant portion of Amazon. The long tail is a potential market and, as the examples illustrate, the distribution and sales channel opportunities created by the Internet often enable businesses to tap that market successfully.

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In his Wired article Anderson opens with an anecdote about creating a niche market for books on Amazon. He writes about a book titled Touching the Void about a near-death mountain climbing accident that took place in the Peruvian Andes. Anderson states the book got good reviews, but didn't have much commercial success.

Anderson realized that this was due to Amazon's recommendations. This created a niche market for those who enjoy books about mountain climbing even though it is not considered a popular genre supporting the long tail theory. An Amazon employee described the long tail as follows: In the graph shown above, Amazon's book sales would be represented along the vertical axis, while the book or movie ranks are along the horizontal axis.

The total volume of low popularity items exceeds the volume of high popularity items.

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Smithwho first used a log-linear curve on an XY graph to describe the relationship between Amazon. They found that a large proportion of Amazon. They then quantified the potential value of the long tail to consumers. In an article published inthese authors showed that, while most of the discussion about the value of the Internet to consumers has revolved around lower prices, consumer benefit a.

Thus, the primary value of the internet to consumers comes from releasing new sources of value by providing access to products in the long tail. Smith [17] finds that the long tail has grown longer over time, with niche books accounting for a larger share of total sales.Arya Vysya Matrimony. is an online Arya Vysya Matrimony portal with thousands of Arya Vysya profiles to choose from. Our service is exclusively for Arya Vysya community members from all over the world.

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The aim of this paper is to reassess the way management technology was carried out in the manufacturing industry and establish “New JIT, New Management Technology Principle”. The long tail is the name for a long-known feature of some statistical distributions (such as Zipf, power laws, Pareto distributions and general Lévy distributions).In "long-tailed" distributions a high-frequency or high-amplitude population is followed by a low-frequency or low-amplitude population which gradually "tails off" events at the .

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