What is marketing expertise?
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Marketing expertise encompasses a range of skills and knowledge related to promoting products or services effectively. It involves understanding consumer behavior, market trends, and communication strategies. Marketing expertise can have significant spillover effects on firms' market performance, as seen in the adoption of loyalty programs impacting market share. In online markets, the presence of experts influences buyer behavior and revenue generation strategies, such as sniping in auctions and quality signaling by sellers. Moreover, in the context of telecommunications organizations, marketing assets and capabilities play a crucial role in enhancing financial performance, with marketing expertise mediating this relationship. Upholding stringent standards for qualifying marketing experts is essential to maintain the integrity of the discipline and legal processes.
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| Papers (5) | Insight |
|---|---|
7 Citations | Marketing expertise refers to the knowledge and skills related to marketing strategies, techniques, and practices that firms utilize to enhance their market performance and competitive advantage in emerging markets. |
12 Citations | Marketing expertise refers to the transformation of public accountants into part-time marketers through the adoption of marketing strategies and language, leading to the colonization of public accounting firms by marketing ideology. |
2 Citations | Marketing expertise involves assessing advertising intent and impact in product liability cases. The paper highlights the need for stringent standards to qualify marketing experts and their opinions in court. |
| Marketing expertise refers to the unique competencies in utilizing marketing knowledge and skills across managerial levels to achieve performance targets, as highlighted in the research on marketing assets and capabilities. | |
| Marketing expertise in online markets refers to buyers' ability to predict item quality. Experts influence bidding behavior, revenue, and sellers' choice between auctions and posted prices. |
Related Questions
What is the definition of marketing?5 answersMarketing can be defined as the process of understanding consumer needs, creating value through products or services, and persuading consumers to act in ways that benefit both parties. It involves activities such as pricing, promotion, and distribution aimed at satisfying individual and organizational goals through exchanges. Marketing is crucial for business growth, as it involves creating awareness, anticipating future needs, and ensuring customer satisfaction. The essence of marketing lies in the interaction between producers and customers, with a focus on the customer as the central decision-making factor. Ultimately, marketing is a dynamic discipline that adapts to various contexts and circumstances to facilitate mutually beneficial relationships between businesses and consumers.
What marketeers are responsible for?4 answersMarket-makers, including major firms and software agents, are responsible for maintaining liquidity and orderly price transitions in markets. They play a crucial role in ensuring market quality and facilitating price discovery. Market-makers compete with each other to provide the best prices and execute trades efficiently. Their actions have a significant impact on market dynamics and can influence the speed and accuracy of price adjustments. Additionally, market-makers face a tradeoff between price discovery and profit-taking, highlighting the exploration-exploitation dilemma they encounter. Their activities are essential for the functioning of various markets, including global stock exchanges and prediction markets.
How does expertise affect brand equity?3 answersExpertise has a significant impact on brand equity. User expertise plays a mediating role in the relationship between design perception and experimental value, which in turn affects brand equity. Expert evaluations of quality also influence price premiums of national brands over store brands. When national brands have higher quality, they command a higher price premium, highlighting the returns on building brand equity. Additionally, the quality of a product, as assessed by experts, is linked to its physical attributes and plays an increasing role over time. Finally, employee knowledge, both implicit and explicit, plays an important role in creating brand equity.
Doing being an expert3 answersBeing an expert involves demonstrating expertise in a specific field or domain. Experts possess a high level of competence and experience in their area of specialization. Expertise can be disciplinary or interdisciplinary, and it can also extend beyond disciplinary boundaries. The concept of expertise is social, and measuring expertise is an ongoing process that requires constant updating and correction. Experts are able to apply their knowledge and experience to solve new problems. However, determining who is the superior expert can be challenging, especially when experts disagree. The socialization of medical professionals involves the enactment of expertise by medical teachers and residents, which contributes to the training of future medical professionals. These anxious times for expertise raise questions about the nature and future of expertise, including how experts know what they know and how the rest of us come to depend upon or grow skeptical of their capacities. The study of expertise examines the characteristics and procedures that distinguish experts from non-experts.
Why are experts important?3 answersExperts are important because they possess a high level of competence and experience in their field, allowing them to provide valuable knowledge and insights. Their expertise is crucial in decision-making processes, particularly in public health decision-making. Experts can help organizations attract highly qualified employees by understanding their expectations and implementing appropriate HR practices. Additionally, experts play a vital role in improving the accuracy of collective decision-making within groups. They can put an upper bound on the probability of false beliefs and contribute to better decision outcomes. Expertise is not limited to disciplinary boundaries and can also exist in interdisciplinary communication. Overall, experts bring specialized knowledge, experience, and insights that are essential for making informed decisions and solving complex problems.
What is the marketing?4 answersMarketing is the process of promoting, selling, and distributing products to potential consumers. It involves identifying the preferences and needs of target consumers, developing a service or product that satisfies those needs, determining the most effective way to reach the target market, and creating and implementing a marketing plan that includes strategies for product pricing, promotion, and distribution. Marketing can take many forms, including social media marketing, internet search engine optimization, marketing via email, and conventional marketing, among others. The ultimate aim of marketing is to increase drive sales, brand awareness, and generate leads. Perfect marketing requires a deep understanding of the target market, their needs and desires, and the competitive landscape. Marketing plays a significant role in our society and is a principle for managing companies. It involves thinking and acting consistently from the outside in – from the market into the company. Marketing efforts vary depending on the different circumstances within which they are practiced.