Explore BrainMass

Explore BrainMass

    how marketing is both an art and science

    This content was COPIED from BrainMass.com - View the original, and get the already-completed solution here!

    Take a position and defend it. Is marketing an art or a science? (MBA Level)

    © BrainMass Inc. brainmass.com March 4, 2021, 6:53 pm ad1c9bdddf

    Solution Preview

    This is a very interesting question and can be answered in short by simply saying yes. Below I will expand further how marketing is both an art and science.

    In past decades, companies relied in large measure on anecdotal evidence and rudimentary metrics (e.g., a 20 percent discount coupon that generates a 30 percent lift in sales) to develop marketing strategies and tactics, implement them, and assess their effectiveness. By contrast, ROI marketing involves the use of new, sophisticated metrics and computer models to analyze and quantify marketing spending and return on investment. But ROI marketing is much more than a measurement system; it's a marketing management philosophy that requires changes in organizational design and business processes to optimize marketing activities.

    To truly measure marketing effectiveness, companies must engage in a new way of thinking," says Sharat K. Mathur, a principal in Booz Allen's Chicago office, who specializes in customer and business strategy, pricing and trade promotions as well as marketing effectiveness. "The ones that are most successful are those that accept the need for a comprehensive transformation of the way they go to market." This involves not only more ...

    Solution Summary

    I will expand further how marketing is both an art and science.