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Motivations in the Marketing Industry

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What motivates people in the marketing industry using incentives, opportunity cost, normative and empirical economics and marginal analysis and marginal benefits?

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Solution Summary

What motivates people in the marketing industry are examined.

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Incentives motivates both the marketing professionals in the company as well as the consumers. For marketing professionals in an organization, incentive is a motivation to become more productive by increasing sales and revenues of the company and participate in the increased revenue with incentives, thereby increasing their pay packets. There is a direct link between monetary incentives and motivation for employees. Similarly, incentives such as price discounts, free coupons, free gifts, etc motivate people to try out a new product or purchase more quanitities of a given product. This is due to the fact that consumers perceive more value in the product due to the incentives attached to it. They are drawn towards the product to try it or buy it once.

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Solution provided by:
Sandeep Bardia, MBA
Education
  • BCom, SGTB Khalsa College, University of Delhi
  • MBA, Rochester Institute of Technology
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