Week 16 - Marketing Strategy

Marketing strategies are what companies use in order to gain a competitive advantage in their business using the limited number of resources that they own. Companies who excel in creating and implementing superior marketing strategies tend are better off than those who are not. Some topics that will help businesses create a better marketing strategy are to develop a marketing plan, know one's target audience, and target marketing.

Developing a marketing plan can be extremely useful to a company because it allows them to explore different areas and different marketing techniques and then proceed to go on using the one that yields the best results. A good marketing plan is one who takes into consideration what their customer wants from them and ease of access. By having and using a good marketing plan, it will inevitably provide easy to consume products that satisfies a customer's wants.

Knowing one's target audience and target marketing go hand in hand. For example, target marketing is the process of determining the demographics of a group of people whom you wish to market towards, then proceeding to market specifically to that group of people. By directing resources specifically towards a single group of people who have high potential of becoming long term customers, it is possible to optimize the loss of resources from creating different marketing strategies through the gain of revenue from customer sales.

Image result for marketing strategy

Comments

Week 16 - Where AI is Headed in the Future

Artificial Intelligence is at a point where almost anyone who has access to the Internet has heard of it. But there are still people who do not know for sure what AI is and what its potential uses could be. As it stands, AI is currently used for a multitude of different tasks. Whether it be balancing accounts in a small business or diagnosing patients with physical ailments, AI has the opportunity to succeed at any of these tasks and all of them in between. But with that wide array of tasks that AI is capable of handling, it may seem that there are not many more roads that are left untraveled in terms of new AI capabilities. However, that can all change with a few major advancements in technology, which is not all that far fetched when thinking about the world as a whole. For example, supercomputers that were used to put man on the moon almost fifty years ago have a fraction of the computing power of the computers that are in an everyday household. In fifty years, technology regardin...

Week 2 Blog 2 - Ethical and Privacy Concerns Regarding The Advancement of AI Technology

As AI gains more and more depth in both its systems and knowledgebase, it is beginning to become more and more clear that the information being processed by these systems contains sensitive information. If this information were to be obtained through AI and used for malicious purposes, it could spell disaster amongst the general public. The masses would be afraid of AI's capabilities to search vast arrays of databases to find sensitive information. As a result, it must be said that there needs to be some regulations into what AI can and cannot do in order to prevent such a causality. In my previous blogpost, entitled Similarities Between AI and The Internet I asked ChatGPT to list some similarities between the two. After letting the newly created chatbot to do its magic, I came across a point that resonated with the idea of regulations needed to be placed on AI technologies. I gave ChatGPT the following prompt "Go into further detail regarding Et...

Week 3 Blog 2 - ChatGPT Responds to "How Will AI Enter the Health Industry"

I asked ChatGPT to "provide three examples of how AI can enter the health industry and explain it in a formal blogpost." The following is what it has to say on the subject. Embracing the Power of Artificial Intelligence in Healthcare Introduction: The intersection of artificial intelligence (AI) and the health industry is revolutionizing the way we diagnose, treat, and manage diseases. AI has emerged as a transformative force, offering remarkable potential to enhance patient care, improve diagnostic accuracy, and accelerate medical research. In this blog post, we will explore three compelling examples of how AI is entering the health industry and revolutionizing healthcare delivery. Medical Imaging and Diagnosis: One area where AI has shown exceptional promise is medical imaging analysis. Traditional methods of interpreting medical images, such as X-rays, MRIs, and CT scans, rely heavily on human expertise, which ...

Tayseer Zayed

Search This Blog