Contents Hide 1 Science of marketing

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The essence of marketing 3 History 4 Speed 5 Simplicity The science of marketing Advances in data processing, modeling, and automatic analysis make it possible to work more precisely with the target audience, measure the return on marketing costs, and better understand the reasons that influence consumer behavior. In the distant past, decisions on the allocation of funds were based only on intuition and the results of focus groups.

Now companies strive for greater accuracy: they find points in the process of making a consumer decision, where timely investments in marketing will give the greatest result, and work purposefully with them. These changes are often associated Specific Database with "big data". But "big data" is not enough - detailed research is required. One large manufacturer of consumer goods decided to study in more detail how customers make decisions about buying its products. The company analyzed more than 10,000 consumer questionnaires filled out on the Internet during the month. Previously, it was impossible to imagine such volume and speed of data collection.



The analysis showed that the company and its customers perceive a certain category of products in completely different ways, and helped to understand what determines the choice at each stage of making a purchase decision. Taking these new insights into account, the company revised its branding strategy, the structure of its product portfolio, and the content of its marketing campaigns. This promises an increase in revenue by billions of dollars.