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Essay / Research Paper Abstract
This 4 page paper considers the use of marketing models for assessing a marketing campaign. Fourt and Woolock model, the Parfitt and Collins model, simulation models and non metric multidimensional preference analysis (MDS). The paper assesses which is best used for a single purchase and looks at the strengths and weaknesses of the models. The bibliography cites 2 sources.
Page Count:
4 pages (~225 words per page)
File: TS14_TEmarmod.rtf
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Unformatted sample text from the term paper:
that the success is maximised and is assessed prior to the launch. There are a number of tools that can be used to assess the impact on the market, in
terms of sales and market share, as the result of a marketing campaign. These will range in their suitability for assessment in marketing a single large purchase such as a
Ford Focus. It is worth noting that many of these models arte based on dome for or statistical analysis and forecasting. The Fourt and Woolock model looks at the
way purchases and repeat purchases are impacted by brand awareness. In this model brand awareness has to precede brand trial, which them may lead to a purchase or repeat purchases
(Smith and Swinyard, 1999). Here where there is low product awareness there will be lower sales, and where there is higher brand awareness sales will increase, therefore marketing the brand
should increase the sales. This is an early model ands is useful if there is sufficient information that relates brand awareness of sales levels of the different cars. However then
model looks more to the repeat purchase products, such as supermarkets goods, rather than single purchases (Smith and Swinyard, 1999), as a repeat purchase in the car market is likely
to have a gap of several years this may not be the best option. This model may have some value for assessing but the accuracy and applicable is likely to
be limited as there will be a great many other factors in addition to brand awareness. The same problems will exist with the Parfitt and Collins model, as this also
loos to frequent purchase products (Smith and Swinyard, 1999). Preliminary market data is also used by the simulation model SPRINTER, which will look to use a wide range of
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