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Please help improve this article by adding citations to reliable sources. Unverifiable material may be challenged and removed. | | Marketing | | Key concepts | | Product / Price / Promotion
Placement / Service / Retail
Market research
Marketing strategy
Marketing management
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For the magazine, see Marketing (magazine). ...
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Wikibooks has more about this subject: Marketing Scale model of a Wheaties cereal box at a pep rally Promotion is one of the four key aspects of the marketing mix. ...
Wikibooks [[wikibooks:|]] has more about this subject: Marketing Distribution is one of the 4 aspects of marketing. ...
This article is about a term used in economics. ...
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Market research is the process of systematic gathering, recording and analyzing of data about customers, competitors and the market. ...
A marketing strategy[1] [2] is a process that can allow an organization to concentrate its limited resources on the greatest opportunities to increase sales and achieve a sustainable competitive advantage. ...
Wikibooks has more about this subject: Marketing Marketing management is a business discipline focused on the practical application of marketing techniques and the management of a firms marketing resources and activities. ...
| | Promotional content | | Advertising / Branding
Direct marketing / Personal Sales
Product placement / Public relations
Publicity / Sales promotion
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Wikibooks has more about this subject: Marketing Direct marketing is a discipline within marketing that involves contacting individual customers (business-to-business or consumer) directly and obtaining their responses and transactions for the purpose of developing and prolonging mutually profitable customer relationships. ...
Sales are the activities involved in providing products or services in return for money or other compensation. ...
Wikibooks [[wikibooks:|]] has more about this subject: Marketing Product placement advertisements are promotional ads placed by marketers using real commercial products and services in media, where the presence of a particular brand is the result of an economic exchange. ...
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Wikibooks has more about this subject: Marketing Look up publicity in Wiktionary, the free dictionary. ...
Wikibooks has more about this subject: Marketing Sales promotion is one of the four aspects of promotional mix. ...
An underwriting spot is an announcement made on public broadcasting outlets, especially in the United States, in exchange for funding. ...
| | Promotional media | | Printing / Publication / Broadcasting
Out-of-home / Internet marketing
Point of sale / Novelty items
Digital marketing / In-game
Word of mouth
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Broadcasting is the distribution of audio and/or video signals which transmit programs to an audience. ...
Out-of-home advertising (also referred to as OOH) is essentially all type of advertising that reaches the consumer while he or she is outside the home. ...
Wikibooks [[wikibooks:|]] has more about this subject: Marketing Internet marketing, also referred to as online marketing or Emarketing, is the marketing of products or services over the Internet. ...
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Promotional items or promotional products refers to articles of merchandise that are used in marketing and communication programs. ...
Digital Marketing refers to the practice of marketing services, products and other items using digital tools and techniques that have appeared relatively recently since the rise of the Internet as a mainstream communications platform. ...
In-game advertising (IGA) refers to the use of computer and video games as a medium in which to deliver advertising. ...
Word-of-mouth marketing is a term used in the marketing and advertising industry to describe activities that companies undertake to generate personal recommendations as well as referrals for brand names, products and services. ...
| | This box: view • talk • edit | Economies of scope are conceptually similar to economies of scale. Whereas economies of scale primarily refer to efficiencies associated with supply-side changes, such as increasing or decreasing the scale of production, of a single product type, economies of scope refer to efficiencies primarily associated with demand-side changes, such as increasing or decreasing the scope of marketing and distribution, of different types of products. Economies of scope are one of the main reasons for such marketing strategies as product bundling, product lining, and family branding. The increase in output from Q to Q2 causes a decrease in the average cost of each unit from C to C1. ...
For the magazine, see Marketing (magazine). ...
Wikibooks [[wikibooks:|]] has more about this subject: Marketing Distribution is one of the 4 aspects of marketing. ...
Product bundling is a marketing strategy that involves offering several products for sale as one combined product. ...
Product lining is the marketing strategy of offering for sale several related products. ...
Family branding is a marketing strategy that involves selling several related products under one brand name. ...
Often, as the number of products promoted is increased and broader media used, more people can be reached with each dollar spent. This is one example of economies of scope. These efficiencies do not last, however, at some point, additional advertising expenditure on new products will start to be less effective (an example of diseconomies of scope). Advert redirects here. ...
If a sales force is selling several products they can often do so more efficiently than if they are selling only one product. The cost of their travel time is distributed over a greater revenue base, so cost efficiency improves. There can also be synergies between products such that offering a complete range of products gives the consumer a more desirable product offering than a single product would. Economies of scope can also operate through distribution efficiencies. It can be more efficient to ship a range of products to any given location than to ship a single type of product to that location. Synergy (from the Greek synergos, συνεÏγός meaning working together, circa 1660) refers to the phenomenon in which two or more discrete influences or agents acting together create an effect greater than that predicted by knowing only the separate effects of the individual agents. ...
Further economies of scope occur when there are cost-savings arising from by-products in the production process. An example would be the benefits of heating from energy production having a positive effect on agricultural yields.
A company which sells many product lines, sells the same product in many countries, or sells many product lines in many countries will benefit from reduced risk levels as a result of its economies of scope. If one of its product lines falls out of fashion or one country has an economic slowdown, the company will, most likely, be able to continue trading.
Not all economists agree on the importance of economies of scope. Some argue that it only applies to certain industries, and then only rarely.
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