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Guyot

Summary

Guyot

In marine geology, a guyot (), also called a tablemount, is an isolated underwater volcanic mountain (seamount) with a flat top more than 200 m (660 ft) below the surface of the sea. The diameters of these flat summits can exceed 10 km (6.2 mi). Guyots are most commonly found in the Pacific Ocean, but they have been identified in all the oceans except the Arctic Ocean. They are analogous to tables (such as mesas) on land.

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Critical flow

Ship hydrodynamics

Froude_resistance_curve > Other applications > Ship hydrodynamics

In marine hydrodynamic applications, the Froude number is usually referenced with the notation Fn and is defined as: where u is the relative flow velocity between the sea and ship, g is in particular the acceleration due to gravity, and L is the length of the ship at the water line level, or Lwl in some notations. It is an important parameter with respect to the ship's drag, or resistance, especially in terms of wave making resistance. In the case of planing crafts, where the waterline length is too speed-dependent to be meaningful, the Froude number is best defined as displacement Froude number and the reference length is taken as the cubic root of the volumetric displacement of the hull:

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Dead reckoning

Marine

Pedestrian_dead_reckoning > Vehicular navigation > Marine

In marine navigation a "dead" reckoning plot generally does not take into account the effect of currents or wind. Aboard ship a dead reckoning plot is considered important in evaluating position information and planning the movement of the vessel.Dead reckoning begins with a known position, or fix, which is then advanced, mathematically or directly on the chart, by means of recorded heading, speed, and time. Speed can be determined by many methods. Before modern instrumentation, it was determined aboard ship using a chip log.

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Dead reckoning

Marine

Pedestrian_dead_reckoning > Vehicular navigation > Marine

More modern methods include pit log referencing engine speed (e.g. in rpm) against a table of total displacement (for ships) or referencing one's indicated airspeed fed by the pressure from a pitot tube. This measurement is converted to an equivalent airspeed based upon known atmospheric conditions and measured errors in the indicated airspeed system. A naval vessel uses a device called a pit sword (rodmeter), which uses two sensors on a metal rod to measure the electromagnetic variance caused by the ship moving through water.

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Dead reckoning

Marine

Pedestrian_dead_reckoning > Vehicular navigation > Marine

This change is then converted to ship's speed. Distance is determined by multiplying the speed and the time. This initial position can then be adjusted resulting in an estimated position by taking into account the current (known as set and drift in marine navigation).

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Dead reckoning

Marine

Pedestrian_dead_reckoning > Vehicular navigation > Marine

If there is no positional information available, a new dead reckoning plot may start from an estimated position. In this case subsequent dead reckoning positions will have taken into account estimated set and drift. Dead reckoning positions are calculated at predetermined intervals, and are maintained between fixes.

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Dead reckoning

Marine

Pedestrian_dead_reckoning > Vehicular navigation > Marine

The duration of the interval varies. Factors including one's speed made good and the nature of heading and other course changes, and the navigator's judgment determine when dead reckoning positions are calculated.

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Dead reckoning

Marine

Pedestrian_dead_reckoning > Vehicular navigation > Marine

Before the 18th-century development of the marine chronometer by John Harrison and the lunar distance method, dead reckoning was the primary method of determining longitude available to mariners such as Christopher Columbus and John Cabot on their trans-Atlantic voyages. Tools such as the traverse board were developed to enable even illiterate crew members to collect the data needed for dead reckoning. Polynesian navigation, however, uses different wayfinding techniques.

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Pelorus (instrument)

Summary

Pelorus_(instrument)

In marine navigation, a pelorus is a reference tool for maintaining bearing of a vessel at sea. It is a "simplified compass" without a directive element, suitably mounted and provided with vanes to permit observation of relative bearings.The instrument was named for one Pelorus, said to have been the pilot for Hannibal, circa 203 BC.

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Return connecting rod engine

Screw propulsion

Return_connecting_rod_engine > Marine steam engines > Screw propulsion

In marine practice, the return connecting rod engine for screw propulsion was termed the back-acting(US parlance) or double piston rod engine.

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Controllable pitch propeller

Summary

Controllable_pitch_propeller

In marine propulsion, a variable-pitch propeller is a type of propeller with blades that can be rotated around their long axis to change the blade pitch. Reversible propellers—those where the pitch can be set to negative values—can also create reverse thrust for braking or going backwards without the need to change the direction of shaft revolution. A controllable pitch propeller (CPP) can be efficient for the full range of rotational speeds and load conditions, since its pitch will be varied to absorb the maximum power that the engine is capable of producing. When fully loaded, a vessel will need more propulsion power than when empty.

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Controllable pitch propeller

Summary

Controllable_pitch_propeller

By varying the propeller blades to the optimal pitch, higher efficiency can be obtained, thus saving fuel. A vessel with a VPP can accelerate faster from a standstill and can decelerate much more effectively, making stopping quicker and safer. A CPP can also improve vessel maneuverability by directing a stronger flow of water onto the rudder.However, a fixed variable-pitch propeller (FVPP) is both cheaper and more robust than a CPP.

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Controllable pitch propeller

Summary

Controllable_pitch_propeller

Also, an FVPP is typically more efficient than a CPP for a single specific rotational speed and load condition. Accordingly, vessels that normally operate at a standard speed (such as large bulk carriers, tankers and container ships) will have an FVPP optimized for that speed. At the other extreme, a canal narrowboat will have a FVPP for two reasons: speed is limited to 4 mph (to protect the canal bank), and the propeller needs to be robust (when encountering underwater obstacles).

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Controllable pitch propeller

Summary

Controllable_pitch_propeller

Vessels with medium or high speed diesel or gasoline engines use a reduction gear to reduce the engine output speed to an optimal propeller speed—although the large low speed diesels, whose cruising RPM is in the 80 to 120 range, are usually direct drive with direct-reversing engines. While an FVPP-equipped vessel needs either a reversing gear or a reversible engine to reverse, a CPP vessel may not. On a large ship the CPP requires a hydraulic system to control the position of the blades.

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Controllable pitch propeller

Summary

Controllable_pitch_propeller

Compared to an FPP, a CPP is more efficient in reverse as the blades' leading edges remain as such in reverse also, so that the hydrodynamic cross-sectional shape is optimal for forward propulsion and satisfactory for reverse operations. In the mid-1970s, Uljanik Shipyard in Yugoslavia produced four VLCCs with CPPs – a tanker and three ore/oil carriers – each powered by two 20,000 bhp B & W diesel engines directly driving Kamewa variable-pitch propellers. Due to the high construction cost none of these vessels ever returned a profit over their lifetimes.

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Controllable pitch propeller

Summary

Controllable_pitch_propeller

For these vessels, fixed variable-pitch propellers would have been more appropriate.Controllable-pitch propellers are usually found on harbour or ocean-going tugs, dredgers, cruise ships, ferries, cargo vessels and larger fishing vessels. Prior to the development of CPPs, some vessels would alternate between "speed wheel" and "power wheel" propellers depending on the task. Current VPP designs can tolerate a maximum output of 44000 kW (60,000 hp).

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Semipermeable membrane devices

Organisms

Semipermeable_membrane_devices > Deployment > Biological obstructions > Organisms

In marine systems a common problem involving barnacles growing on and in the canister can occur which can moderately to greatly reduce the amount of contaminant collected, as well as make it difficult to retrieve the devices.

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Aquatic habitat

Ocean currents

Marine_habitat > Ocean currents

In marine systems, ocean currents have a key role determining which areas are effective as habitats, since ocean currents transport the basic nutrients needed to support marine life. Plankton are the life forms that inhabit the ocean that are so small (less than 2 mm) that they cannot effectively propel themselves through the water, but must drift instead with the currents. If the current carries the right nutrients, and if it also flows at a suitably shallow depth where there is plenty of sunlight, then such a current itself can become a suitable habitat for photosynthesizing tiny algae called phytoplankton. These tiny plants are the primary producers in the ocean, at the start of the food chain.

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Aquatic habitat

Ocean currents

Marine_habitat > Ocean currents

In turn, as the population of drifting phytoplankton grows, the water becomes a suitable habitat for zooplankton, which feed on the phytoplankton. While phytoplankton are tiny drifting plants, zooplankton are tiny drifting animals, such as the larvae of fish and marine invertebrates. If sufficient zooplankton establish themselves, the current becomes a candidate habitat for the forage fish that feed on them.

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Aquatic habitat

Ocean currents

Marine_habitat > Ocean currents

And then if sufficient forage fish move to the area, it becomes a candidate habitat for larger predatory fish and other marine animals that feed on the forage fish. In this dynamic way, the current itself can, over time, become a moving habitat for multiple types of marine life.

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Aquatic habitat

Ocean currents

Marine_habitat > Ocean currents

Ocean currents can be generated by differences in the density of the water. How dense water is depends on how saline or warm it is. If water contains differences in salt content or temperature, then the different densities will initiate a current.

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Aquatic habitat

Ocean currents

Marine_habitat > Ocean currents

Water that is saltier or cooler will be denser, and will sink in relation to the surrounding water. Conversely, warmer and less salty water will float to the surface. Atmospheric winds and pressure differences also produces surface currents, waves and seiches.

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Aquatic habitat

Ocean currents

Marine_habitat > Ocean currents

Ocean currents are also generated by the gravitational pull of the sun and moon (tides), and seismic activity (tsunami). The rotation of the Earth affects the direction ocean currents take, and explains which way the large circular ocean gyres rotate in the image above left. Suppose a current at the equator is heading north.

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Aquatic habitat

Ocean currents

Marine_habitat > Ocean currents

The Earth rotates eastward, so the water possesses that rotational momentum. But the further the water moves north, the slower the earth moves eastward. If the current could get to the North Pole, the earth would not be moving eastward at all.

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Aquatic habitat

Ocean currents

Marine_habitat > Ocean currents

To conserve its rotational momentum, the further the current travels north the faster it must move eastward. So the effect is that the current curves to the right. This is the Coriolis effect. It is weakest at the equator and strongest at the poles. The effect is opposite south of the equator, where currents curve left.

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Flotsam, jetsam, lagan and derelict

Summary

Flotsam,_jetsam,_lagan_and_derelict

In maritime law, flotsam, jetsam, lagan, and derelict are specific kinds of shipwreck. The words have specific nautical meanings, with legal consequences in the law of admiralty and marine salvage. A shipwreck is defined as the remains of a ship that has been wrecked—a destroyed ship at sea, whether it has sunk or is floating on the surface of the water.

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Collision

Allision

Collision > Allision

In maritime law, it is occasionally desirable to distinguish between the situation of a vessel striking a moving object, and that of it striking a stationary object. The word "allision" is then used to mean the striking of a stationary object, while "collision" is used to mean the striking of a moving object. Thus, when two vessels run against each other, courts typically use the term collision whereas when one vessel runs against another, they typically use the term allision. The fixed object could also be a bridge or dock.

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Collision

Allision

Collision > Allision

While there is no great difference between the two terms and often they are even used interchangeably, determining the difference helps clarify the circumstances of emergencies and adapt accordingly. In the case of Vane Line Bunkering, Inc. v. Natalie D M/V, it was established that there was the presumption that the moving vessel is at fault, stating that "presumption derives from the common-sense observation that moving vessels do not usually collide with stationary objects unless the vessel is mishandled in some way". This is also referred to as The Oregon Rule.

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Seaplane carrier

Terminology

Seaplane_tender > Terminology

In maritime parlance a tender is a vessel that is used to support the operation of other vessels. In British usage, the term tender was used for small craft, with the term depot ship being used for large seagoing vessels. Flying boats and float planes even when based at home in ports and harbour had a need for small support vessels to operate.British tenders were small craft of launch to pinnace size.

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Seaplane carrier

Terminology

Seaplane_tender > Terminology

These were used to ferry crews, stores and supplies between shore and the aircraft, to maintain the buoys used to mark out "taxiways" and "runways" and to keep these clear of debris to prevent foreign object damage, and in the case of emergency to act as rescue craft and airport crash tenders. All those functions that on land would require wheeled ground support equipment had a need for a watercraft equivalent. When deploying flying boat squadrons, bases could rapidly be established in areas lacking infrastructure by sending flying boat depot ships in addition to small craft tenders. These ships could carry out the function of barracks, workshops and control towers, i.e. those functions which in a land based airfield would be fulfilled by buildings.

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Cargo net

Marine rescue and ship embarkation

Cargo_net > Uses > Marine rescue and ship embarkation

In maritime situations, cargo nets can be slung over the side of a ship to allow passengers stranded in the water to climb aboard to safety. Cargo nets can also be used to transfer troops from a ship to landing craft.

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Jury rigging

Summary

Jury_rig

In maritime transport terms, and most commonly in sailing, jury-rigged is an adjective, a noun, and a verb. It can describe the actions of temporary makeshift running repairs made with only the tools and materials on board; and the subsequent results thereof. The origin of jury-rigged and jury-rigging lies in such efforts done on boats and ships, characteristically sail powered to begin with. Jury-rigging can be applied to any part of a ship; be it its super-structure (hull, decks), propulsion systems (mast, sails, rigging, engine, transmission, propeller), or controls (helm, rudder, centreboard, daggerboards, rigging). Similarly, after a dismasting, a replacement mast, often referred to as a jury mast (and if necessary, yard) would be fashioned, and stayed to allow a watercraft to resume making way.

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Nautical date line

Preference for GMT over UTC

Nautical_date_line > History of nautical time > Letter suffixes > Preference for GMT over UTC

In maritime usage, GMT retains its historical meaning of UT1, the mean solar time at Greenwich, which is empirically adjusted to track unpredictable variations in the Earth's rotational period. UTC, atomic time at Greenwich, makes these adjustments on a coarser granularity than GMT. Establishing latitude by local observations of solar position requires determination of the latitude on Earth where the Sun is directly overhead at the time when the observation is taken. Thus the coarseness of UTC in determining solar time makes it inaccurate in establishing the reference latitude of solar meridian, differing by as much as 0.9 seconds from UT1, creating an error of 1⁄4 of a minute of longitude at all latitudes and which is 1⁄4 nautical mile (460 m) at the equator but less at higher latitudes, varying roughly by the cosine of the latitude. However, the time correction DUT1 can be added to UTC to correct it to within 50 milliseconds of UT1, reducing the error to only 20 metres (66 ft).Solar position can also be established by celestial observation of more distant stars taken at nighttime, but this also involves a calendrical correction due to the Earth's elliptical orbit around the Sun; establishing solar position by observations of bright solar objects, such as Venus (also with its own elliptical orbit), involves yet further complexity.

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Musical system of ancient Greece

Ptolemy and the Alexandrians

Musical_system_of_ancient_Greece > Ptolemy and the Alexandrians

In marked contrast to his predecessors, Ptolemy's scales employed a division of the pyknon in the ratio of 1:2, melodic, in place of equal divisions. Ptolemy, in his Harmonics, ii.3–11, construed the tonoi differently, presenting all seven octave species within a fixed octave, through chromatic inflection of the scale degrees (comparable to the modern conception of building all seven modal scales on a single tonic). In Ptolemy's system, therefore there are only seven tonoi. Ptolemy preserved Archytas's tunings in his Harmonics as well as transmitting the tunings of Eratosthenes and Didymos and providing his own ratios and scales.

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Jebel Akhdar (Libya)

Flora

Jebel_Akhdar_(Libya) > Flora

In marked contrast to the aridity prevailing in most of Libya, there are forested areas in this region totalling around 3200 km2, although approximately a third of the original forest has already been destroyed to make way for agriculture. In addition to the forests there are also large areas of maquis and steppe-like vegetation. Typical maquis species are the Phoenician juniper (Juniperus phoenicea), the mastic tree (Pistacia lentiscus), the Kermes oak (Quercus coccifera) and the carob tree (Ceratonia siliqua).

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Jebel Akhdar (Libya)

Flora

Jebel_Akhdar_(Libya) > Flora

In the drier steppe-like areas, branched asphodel (Asphodelus ramosus), prickly burnet (Sarcopoterium spinosum) and white wormwood (Artemisia herba-alba) predominate. More than half of the endemic plant species in Libya are to be found in the Jebel Akhdar and, of these, seven are found only in the region: Arbutus pavarii, Arum cyrenaicum, Bellis sylvestris var. cyrenaica, Cyclamen rohlfsianum, Cynara cyrenaica, Onopordum cyrenaicum and Romulea cyrenaica.

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Design management

Brand design management

Design_management > Different types > Brand design management

In market and brand focused companies, design management focuses mainly on brand design management, including corporate brand management and product brand management. Focusing on the brand as the core for design decisions results in a strong focus on the brand experience, customer touch points, reliability, recognition, and trust relations. The design is driven by the brand vision and strategy. Corporate brand design managementMarket and brand focused organizations are concerned with the expression and perception of the corporate brand.

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Design management

Brand design management

Design_management > Different types > Brand design management

Corporate design management implements, develops, and maintains the corporate identity, or brand. This type of brand management is strongly anchored in the organization to control and influence corporate design activities. The design program plays the role of a quality program within many fields of the organization to achieve uniform internal branding.

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Design management

Brand design management

Design_management > Different types > Brand design management

It is strongly linked to strategy, corporate culture, product development, marketing, organizational structure, and technological development. Achieving a consistent corporate brand requires the involvement of designers and a widespread design awareness among employees. A creative culture, knowledge sharing processes, determination, design leadership, and good work relations support the work of corporate brand management.

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Design management

Brand design management

Design_management > Different types > Brand design management

Product brand design managementThe main focus of product brand management lies on the single product or product family. Product design management is linked to research and development, marketing, and brand management, and is present in the fast-moving consumer goods (FMCG) industry. It is responsible for the visual expressions of the individual product brand, with its diverse customer–brand touch points and the execution of the brand through design.

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Solar Guerrilla

Market rate net metering

Time_of_use_net_metering > Market rate net metering

In market rate net metering systems the user's energy use is priced dynamically according to some function of wholesale electric prices. The users' meters are programmed remotely to calculate the value and are read remotely. Net metering applies such variable pricing to excess power produced by a qualifying system. Market rate metering systems were implemented in California starting in 2006, and under the terms of California's net metering rules will be applicable to qualifying photovoltaic and wind systems.

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Solar Guerrilla

Market rate net metering

Time_of_use_net_metering > Market rate net metering

Under California law the payback for surplus electricity sent to the grid must be equal to the (variable, in this case) price charged at that time. Net metering enables small systems to result in zero annual net cost to the consumer provided that the consumer is able to shift demand loads to a lower price time, such as by chilling water at a low cost time for later use in air conditioning, or by charging a battery electric vehicle during off-peak times, while the electricity generated at peak demand time can be sent to the grid rather than used locally (see Vehicle-to-grid). No credit is given for annual surplus production.

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Brand switching

Summary

Customer_switching

In marketing and microeconomics, customer switching or consumer switching describes "customers/consumers abandoning a product or service in favor of a competitor". Assuming constant price, product or service quality, counteracting this behaviour in order to achieve maximal customer retention is the business of marketing, public relations and advertising. Brand switching—as opposed to brand loyalty is the outcome of customer switching behaviour.

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Marketing collateral

Summary

Marketing_collateral

In marketing and sales, marketing collateral is a collection of media used to support the sales of a product or service. Historically, the term "collateral" specifically referred to brochures or sell sheets developed as sales support tools. These sales aids are intended to make the sales effort easier and more effective.The brand of the company usually presents itself by way of its collateral to enhance its brand through a consistent message and other media, and must use a balance of information, promotional content, and entertainment.

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Observational techniques

Summary

Observational_techniques

In marketing and the social sciences, observational research (or field research) is a social research technique that involves the direct observation of phenomena in their natural setting. This differentiates it from experimental research in which a quasi-artificial environment is created to control for spurious factors, and where at least one of the variables is manipulated as part of the experilovement.

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Marketing engineering

Models

Marketing_engineering > Models

In marketing engineering methods and models can be classified in several categories:

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Product lining

Summary

Product_lining

In marketing jargon, product lining refers to the offering of several related products for individual sale. Unlike product bundling, where several products are combined into one group, which is then offered for sale as a units, product lining involves offering the products for sale separately. A line can comprise related products of various sizes, types, colors, qualities, or prices.

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Product lining

Summary

Product_lining

Line depth refers to the number of subcategories under a category. Line consistency refers to how closely related the products that make up the line are. Line vulnerability refers to the percentage of sales or profits that are derived from only a few products in the line.

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Product lining

Summary

Product_lining

In comparison to product bundling, which is a strategy of offering more than one product for promotion as one combined item to create differentiation and greater value, product lining consists of selling different related products individually. The products in the product line can come in various sizes, colours, qualities or prices. For instance, the variety of coffees that are offered at a café is one of its product lines and it could consist of flat white, cappuccinos, short black, lattes, mochas, etc. Alternatively, product line of juices and pastries can also be found at a café. The benefits from having a successful product line is the brand identification from customers which result in customer loyalty and multiple purchases. It increases the likelihood of customers purchasing new products from the company that have just been added into the product line due to the previous satisfying purchases.

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Contrast ratio

Contrast ratio in a real room

Contrast_ratio > Contrast ratio in a real room

In marketing literature, contrast ratios for emissive (as opposed to reflective) displays are always measured under the optimum condition of a room in total darkness. In typical viewing situations, the contrast ratio is significantly lower due to the reflection of light from the surface of the display, making it harder to distinguish between different devices with very high contrast ratios. How much the room light reduces the contrast ratio depends on the luminance of the display, as well as the amount of light reflecting off the display.A clean print at a typical movie theater may have a contrast ratio of 500:1, a transmissive digital projector is around 200:1, and a reflective digital projector (i.e. DLP) is around 500:1 under nearly ideal circumstances.

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Contrast ratio

Contrast ratio in a real room

Contrast_ratio > Contrast ratio in a real room

A modern computer LCD monitor is typically at 1000:1, and TVs might be over 4000:1. Dynamic contrast ratio is usually measured at factory with two panels (one versus another) of the same model as each panel will have an inherent dark and light (hot) spot. Static is usually measured with the same screen showing half screen full bright vs half screen full dark. This usually results in a lower ratio as brightness will creep into the dark area of the screen thus giving a higher luminance.

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Hot cognition

Marketing

Hot_cognition > Marketing

In marketing research, an audience's energy takes the form of psychological heat: hot cognition is an emotional thought process and cold cognition is a cognitive thought process.

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Observational techniques

In marketing research

Observational_techniques > In marketing research

In marketing research, the most frequently used types of observational techniques are: Personal observation observing products in use to detect usage patterns and problems observing license plates in store parking lots determining the socio-economic status of shoppers determining the level of package scrutiny determining the time it takes to make a purchase decision Mechanical observationeye-tracking analysis while subjects watch advertisements oculometers – what the subject is looking at pupilometers – how interested is the viewer electronic checkout scanners – records purchase behaviour on-site cameras in stores people meters (as in monitoring television viewing) e.g.Nielsen box voice pitch meters – measures emotional reactions psychogalvanometer – measures galvanic skin response Auditsretail audits to determine the quality of service in stores inventory audits to determine product acceptance shelf space audits scanner based audits Trace Analysiscredit card records computer cookie records garbology – looking for traces of purchase patterns in garbage detecting store traffic patterns by observing the wear in the floor (long term) or the dirt on the floor (short term) exposure to advertisements Content analysisobserve the content of magazines, television broadcasts, radio broadcasts, or newspapers, either articles, programs, or advertisements

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Bayesian inference in marketing

Weaknesses

Bayesian_inference_in_marketing > Weaknesses

In marketing situations, it is important that the prior probability is (1) chosen correctly, and (2) is understood. A disadvantage to using Bayesian analysis is that there is no ‘correct’ way to choose a prior, therefore the inferences require a thorough analysis to translate the subjective prior beliefs into a mathematically formulated prior to ensure that the results will not be misleading and consequently lead to the disproportionate analysis of preposteriors. The subjective definition of probability and the selection and use of the priors have led to statisticians critiquing this subjective definition of probability that underlies the Bayesian approach.Bayesian probability is often found to be difficult when analysing and assessing probabilities due to its initial counter intuitive nature.

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Bayesian inference in marketing

Weaknesses

Bayesian_inference_in_marketing > Weaknesses

Often when deciding between strategies based on a decision, they are interpreted as: where there is evidence X that shows condition A might hold true, is misread by judging A's likelihood by how well the evidence X matches A, but crucially without considering the prior frequency of A. In alignment with Falsification, which aims to question and falsify instead of prove hypotheses, where there is very strong evidence X, it does not necessarily mean there is a very high probability that A leads to B, but in fact should be interpreted as a very low probability of A not leading to B. In the field of marketing, behavioural experiments which have dealt with managerial decision-making, and risk perception, in consumer decisions have utilised the Bayesian model, or similar models, but found that it may not be relevant quantitatively in predicting human information processing behaviour. Instead the model has been proven as useful as a qualitative means of describing how individuals combine new evidence with their predetermined judgements. Therefore, “the model may have some value as a first approximation to the development of descriptive choice theory” in consumer and managerial instances.

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First mover advantage

Summary

First-mover_advantage

In marketing strategy, first-mover advantage (FMA) is the competitive advantage gained by the initial ("first-moving") significant occupant of a market segment. First-mover advantage enables a company or firm to establish strong brand recognition, customer loyalty, and early purchase of resources before other competitors enter the market segment. First movers in a specific industry are almost always followed by competitors that attempt to capitalise on the first movers' success. These followers are also aiming to gain market share; however, most of the time the first-movers will already have an established market share, with a loyal customer base that allows them to maintain their market share.

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Online marketing platform

Attribution of ad value

Dynamic_keyword_insertion > Compensation methods > Attribution of ad value

In marketing, "attribution" is the measurement of effectiveness of particular ads in a consumer's ultimate decision to purchase. Multiple ad impressions may lead to a consumer "click" or other action. A single action may lead to revenue being paid to multiple ad space sellers.

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Bayesian inference in marketing

Summary

Bayesian_inference_in_marketing

In marketing, Bayesian inference allows for decision making and market research evaluation under uncertainty and with limited data.

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Blind taste test

Summary

Blind_taste_test

In marketing, a blind taste test is often used as a tool for companies to compare their brand to another brand. For example, the Pepsi Challenge is a famous taste test that has been run by Pepsi since 1975. Additionally, taste tests are sometimes used as a tool by companies to develop their brand or new products.

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Blind taste test

Summary

Blind_taste_test

Blind taste tests are ideal for goods such as food or wine that are consumed directly. Researchers use blind taste tests to obtain information about customers' perceptions and preferences on the goods. Blind taste test can be used to: Track views on a product over time assess changes or improvements made to a product gauge reactions to a new product

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Call to action (marketing)

Definition

Call_to_action_(marketing) > Definition

In marketing, a call to action (CTA) is an instruction to the audience designed to provoke an immediate response, usually using an imperative verb such as "call now", "find out more" or "visit a store today". Other types of calls to action might provide consumers with strong reasons for purchasing immediately, such an offer that is only available for a limited time (e.g. 'Offer must expire soon'; 'Limited stocks available') or a special deal usually accompanied by a time constraint (e.g. 'Order before midnight to receive a gift with your order'; 'Two for the price of one for first 50 callers only'). The key to a powerful call to action is to provide consumers with compelling reasons to purchase promptly rather than defer purchase decisions. A CTA can be a simple non-demanding request like "choose a colour" or "watch this video", or a much more demanding request.

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Call to action (marketing)

Definition

Call_to_action_(marketing) > Definition

An obvious CTA would be a request for the consumer to purchase a product or provide personal details and contact information. A CTA often takes the form of a digital image that encourages a lead to move closer towards making a purchase. “Click here,” “Download Now,” and “Learn More,” are all examples of CTAs online consumers are already familiar with.

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Value creation

Summary

Value_creation

In marketing, a company’s value proposition is the full mix of benefits or economic value which it promises to deliver to the current and future customers (i.e., a market segment) who will buy their products and/or services. It is part of a company's overall marketing strategy which differentiates its brand and fully positions it in the market. A value proposition can apply to an entire organization, or parts thereof, or customer accounts, or products or services. Creating a value proposition is a part of the overall business strategy of a company.

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Value creation

Summary

Value_creation

Kaplan and Norton note thatStrategy is based on a differentiated customer value proposition. Satisfying customers is the source of sustainable value creation. Developing a value proposition is based on a review and analysis of the benefits, costs, and value that an organization can deliver to its customers, prospective customers, and other constituent groups within and outside the organization.

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Value creation

Summary

Value_creation

It is also a positioning of value, where Value = Benefits − Cost (cost includes economic risk).A value proposition can be set out as a business or marketing statement (called a "positioning statement") which summarizes why a consumer should buy a product or use a service. A compellingly worded positioning statement has the potential to convince a prospective consumer that a particular product or service which the company offers will add more value or better solve a problem (i.e. the "pain-point") for them than other similar offerings will, thus turning them into a paying client. The positioning statement usually contains references to which sector the company is operating in, what products or services they are selling, who are its target clients and which points differentiate it from other brands and make its product or service a superior choice for those clients.

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Value creation

Summary

Value_creation

It is usually communicated to the customers via the company's website and other advertising and marketing materials. Conversely, a customer's value proposition is the perceived subjective value, satisfaction or usefulness of a product or service (based on its differentiating features and its personal and social values for the customer) delivered to and experienced by the customer when they acquire it. It is the net positive subjective difference between the total benefits they obtain from it and the sum of monetary cost and non-monetary sacrifices (relative benefits offered by other alternative competitive products) which they have to give up in return.

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Value creation

Summary

Value_creation

However, often there is a discrepancy between what the company thinks about its value proposition and what the clients think it is.A company's value propositions can evolve, whereby values can add up over time. For example, Apple's value proposition contains a mix of three values.

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Value creation

Summary

Value_creation

Originally, in the 1980s, it communicated that its products are creative, elegant and "cool" and thus different from the status quo ("Think different"). Then in the first two decades of the 21st century, it communicated its second value of providing the customers with a reliable, smooth, hassle-free user experience within its ecosystem ("Tech that works"). In the 2020s, Apple's latest differentiating value has been the protection of its client's privacy ("Your data is safe with us").

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Internet coupon

Summary

Internet_coupon

In marketing, a coupon is a ticket or document that can be redeemed for a financial discount or rebate when purchasing a product. Customarily, coupons are issued by manufacturers of consumer packaged goods or by retailers, to be used in retail stores as a part of sales promotions. They are often widely distributed through mail, coupon envelopes, magazines, newspapers, the Internet (social media, email newsletter), directly from the retailer, and mobile devices such as cell phones. The New York Times reported "more than 900 manufacturers' coupons were distributed" per household, and that "the United States Department of Agriculture estimates that four families in five use coupons.

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Internet coupon

Summary

Internet_coupon

"Only about 4 percent" of coupons received were redeemed. Coupons can be targeted selectively to regional markets in which price competition is great. Most coupons have an expiration date, although American military commissaries overseas honor manufacturers' coupons for up to six months past the expiration date.

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Customer value proposition

Summary

Customer_value_proposition

In marketing, a customer value proposition (CVP) consists of the sum total of benefits which a vendor promises a customer will receive in return for the customer's associated payment (or other value-transfer). Customer Value Management was started by Ray Kordupleski in the 1980s and discussed in his book, Mastering Customer Value Management. A customer value proposition is a business or marketing statement that describes why a customer should buy a product or use a service. It is specifically targeted towards potential customers rather than other constituent groups such as employees, partners or suppliers. Similar to the unique selling proposition, it is a clearly defined statement that is designed to convince customers that one particular product or service will add more value or better solve a problem than others in its competitive set.

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Product model

Summary

Product_model

In marketing, a product is an object, or system, or service made available for consumer use as of the consumer demand; it is anything that can be offered to a market to satisfy the desire or need of a customer. In retailing, products are often referred to as merchandise, and in manufacturing, products are bought as raw materials and then sold as finished goods. A service is also regarded as a type of product.

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Product model

Summary

Product_model

In project management, products are the formal definition of the project deliverables that make up or contribute to delivering the objectives of the project. A related concept is that of a sub-product, a secondary but useful result of a production process. Dangerous products, particularly physical ones, that cause injuries to consumers or bystanders may be subject to product liability.

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Publicity stunts

Summary

Publicity_stunt

In marketing, a publicity stunt is a planned event designed to attract the public's attention to the event's organizers or their cause. Publicity stunts can be professionally organized, or set up by amateurs. Such events are frequently utilized by both advertisers and celebrities, the majority of whom are notable athletes and politicians. Organizations sometimes seek publicity by staging newsworthy events that attract media coverage.

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Publicity stunts

Summary

Publicity_stunt

They can be in the form of groundbreakings, world record attempts, dedications, press conferences, or organized protests. By staging and managing these types of events, the organizations attempt to gain some form of control over what is reported in the media. Successful publicity stunts have news value, offer photo, video, and sound bite opportunities, and are arranged primarily for media coverage.It can be difficult for organizations to design successful publicity stunts that highlight the message instead of burying it. For example, it makes sense for a pizza company to bake the world's largest pizza, but it would not make sense for the YMCA to sponsor that same event. The importance of publicity stunts is for generating news interest and awareness for the concept, product, or service being marketed.

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Abandonment rate

Summary

Abandonment_rate

In marketing, abandonment rate is a term associated with the use of virtual shopping carts. Also known as "shopping cart abandonment". Although shoppers in brick and mortar stores rarely abandon their carts, abandonment of virtual shopping carts is quite common.

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Abandonment rate

Summary

Abandonment_rate

Marketers can count how many of the shopping carts used in a specified period result in completed sales versus how many are abandoned. The abandonment rate is the ratio of the number of abandoned shopping carts to the number of initiated transactions or to the number of completed transactions.Around 10 sources of information are used before making a decision when buying online (e.g. webshops, review websites, social networks, and the like). In this process the shopper compares at least 5 different websites for the product, and spends up to 20 hours researching. This means that shopping online is not as easy as some predicted 20 years ago.From both business and scientific perspectives, researchers and practitioners have investigated the problem of online shopping abandonment, trying to understand and address the causes of such low conversion rates. They mostly agree that the biggest problems, for online cart abandonment were: lack of transparency, unclear transaction and delivery costs, lack of trust in the online seller, and poor website functioning or complicated processes.

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Brand implementation

Summary

Brand_implementation

In marketing, brand implementation refers to the physical representation and consistent application of brand identity across visual and verbal media. In visual terms, this can include signage, uniforms, liveries, interior design and branded merchandise. Brand implementation encompasses facets of architecture, product design, industrial design, quantity surveying, engineering, procurement, project management and retail design.

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Brand implementation

Summary

Brand_implementation

Brand implementation is an integrated part of a branding cycle and needs to be initiated during the brand design and development phase. Brand implementation is the continuous and consistent application of the brand's image in all business units, communication channels and media. This refers to marketing and branding as a unified whole. In that respect, brand implementation is a continuous process, which requires controlling the brand's image and presence despite changes in markets and company structure.

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Brand loyalty

Summary

Brand_loyalty

In marketing, brand loyalty describes a consumer's positive feelings towards a brand and their dedication to purchasing the brand's products and/or services repeatedly regardless of deficiencies, a competitor's actions, or changes in the environment. It can also be demonstrated with other behaviors such as positive word-of-mouth advocacy. Corporate brand loyalty is where an individual buys products from the same manufacturer repeatedly and without wavering, rather than from other suppliers. Loyalty implies dedication and should not be confused with habit, its less-than-emotional engagement and commitment. Businesses whose financial and ethical values (for example, ESG responsibilities) rest in large part on their brand loyalty are said to use the loyalty business model.

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Brand development

Summary

Brand_strategy

In marketing, brand management begins with an analysis on how a brand is currently perceived in the market, proceeds to planning how the brand should be perceived if it is to achieve its objectives and continues with ensuring that the brand is perceived as planned and secures its objectives. Developing a good relationship with target markets is essential for brand management. Tangible elements of brand management include the product itself; its look, price, and packaging, etc. The intangible elements are the experiences that the target markets share with the brand, and also the relationships they have with the brand. A brand manager would oversee all aspects of the consumer's brand association as well as relationships with members of the supply chain.

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Branded entertainment

Summary

Branded_entertainment

In marketing, branded content (also known as branded entertainment) is content produced by an advertiser or content whose creation was funded by an advertiser. In contrast to content marketing (in which content is presented first and foremost as a marketing ploy for a brand) and product placement (where advertisers pay to have references to their brands incorporated into outside creative works, such as films and television series), branded content is designed to build awareness for a brand by associating it with content that shares its values. The content does not necessarily need to be a promotion for the brand, although it may still include product placement.

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Branded entertainment

Summary

Branded_entertainment

Unlike conventional forms of editorial content, branded content is generally funded entirely by a brand or corporation rather than a studio or a group of solely artistic producers. Examples of branded content have appeared in television, film, online content, video games, events, and other installations. Modern branded marketing strategies are intended primarily to counter market trends, such as the decreasing acceptance of traditional commercials or low-quality advertorials.

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Holding Cost

Summary

Holding_Cost

In marketing, carrying cost, carrying cost of inventory or holding cost refers to the total cost of holding inventory. This includes warehousing costs such as rent, utilities and salaries, financial costs such as opportunity cost, and inventory costs related to perishability, shrinkage (leakage) and insurance. Carrying cost also includes the opportunity cost of reduced responsiveness to customers' changing requirements, slowed introduction of improved items, and the inventory's value and direct expenses, since that money could be used for other purposes. When there are no transaction costs for shipment, carrying costs are minimized when no excess inventory is held at all, as in a just-in-time production system.Excess inventory can be held for one of three reasons.

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Holding Cost

Summary

Holding_Cost

Cycle stock is held based on the re-order point, and defines the inventory that must be held for production, sale or consumption during the time between re-order and delivery. Safety stock is held to account for variability, either upstream in supplier lead time, or downstream in customer demand. Physical stock is held by consumer retailers to provide consumers with a perception of plenty. Carrying costs typically range between 20 and 30% of a company's inventory value.

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Complement goods

Example

Complement_goods > Perfect complement > Example

In marketing, complementary goods give additional market power to the producer. It allows vendor lock-in by increasing switching costs. A few types of pricing strategy exist for a complementary good and its base good: Pricing the base good at a relatively low price - this approach allows easy entry by consumers (e.g. low-price consumer printer vs. high-price cartridge) Pricing the base good at a relatively high price to the complementary good - this approach creates a barrier to entry and exit (e.g., a costly car vs inexpensive gas)

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Contact center telephony

Summary

Contact_center_telephony

In marketing, contact center telephony is the communication and collaboration system used by businesses to either manage high volumes of inbound queries or outbound telephone calls keeping their workforce or agents productive and in control to serve or acquire customers. This business communication system is an extension of computer telephony integration (CTI).

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Customer lifetime value

Summary

Customer_lifetime_value

In marketing, customer lifetime value (CLV or often CLTV), lifetime customer value (LCV), or life-time value (LTV) is a prognostication of the net profit contributed to the whole future relationship with a customer. The prediction model can have varying levels of sophistication and accuracy, ranging from a crude heuristic to the use of complex predictive analytics techniques. Customer lifetime value can also be defined as the monetary value of a customer relationship, based on the present value of the projected future cash flows from the customer relationship.

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Customer lifetime value

Summary

Customer_lifetime_value

Customer lifetime value is an important concept in that it encourages firms to shift their focus from quarterly profits to the long-term health of their customer relationships. Customer lifetime value is an important metric because it represents an upper limit on spending to acquire new customers. For this reason it is an important element in calculating payback of advertising spent in marketing mix modeling. One of the first accounts of the term customer lifetime value is in the 1988 book Database Marketing, which includes detailed worked examples. Early adopters of customer lifetime value models in the 1990s include Edge Consulting and BrandScience.

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Fuzzy clustering

Marketing

Fuzzy_clustering > Applications > Marketing

In marketing, customers can be grouped into fuzzy clusters based on their needs, brand choices, psycho-graphic profiles, or other marketing related partitions.

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Linear Discriminant Analysis

Marketing

Discriminant_analysis > Applications > Marketing

In marketing, discriminant analysis was once often used to determine the factors which distinguish different types of customers and/or products on the basis of surveys or other forms of collected data. Logistic regression or other methods are now more commonly used. The use of discriminant analysis in marketing can be described by the following steps: Formulate the problem and gather data—Identify the salient attributes consumers use to evaluate products in this category—Use quantitative marketing research techniques (such as surveys) to collect data from a sample of potential customers concerning their ratings of all the product attributes. The data collection stage is usually done by marketing research professionals.

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Linear Discriminant Analysis

Marketing

Discriminant_analysis > Applications > Marketing

Survey questions ask the respondent to rate a product from one to five (or 1 to 7, or 1 to 10) on a range of attributes chosen by the researcher. Anywhere from five to twenty attributes are chosen. They could include things like: ease of use, weight, accuracy, durability, colourfulness, price, or size.

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Linear Discriminant Analysis

Marketing

Discriminant_analysis > Applications > Marketing

The attributes chosen will vary depending on the product being studied. The same question is asked about all the products in the study. The data for multiple products is codified and input into a statistical program such as R, SPSS or SAS.

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Linear Discriminant Analysis

Marketing

Discriminant_analysis > Applications > Marketing

(This step is the same as in Factor analysis). Estimate the Discriminant Function Coefficients and determine the statistical significance and validity—Choose the appropriate discriminant analysis method. The direct method involves estimating the discriminant function so that all the predictors are assessed simultaneously.

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Linear Discriminant Analysis

Marketing

Discriminant_analysis > Applications > Marketing

The stepwise method enters the predictors sequentially. The two-group method should be used when the dependent variable has two categories or states. The multiple discriminant method is used when the dependent variable has three or more categorical states.

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Linear Discriminant Analysis

Marketing

Discriminant_analysis > Applications > Marketing

Use Wilks's Lambda to test for significance in SPSS or F stat in SAS. The most common method used to test validity is to split the sample into an estimation or analysis sample, and a validation or holdout sample. The estimation sample is used in constructing the discriminant function.

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Linear Discriminant Analysis

Marketing

Discriminant_analysis > Applications > Marketing

The validation sample is used to construct a classification matrix which contains the number of correctly classified and incorrectly classified cases. The percentage of correctly classified cases is called the hit ratio. Plot the results on a two dimensional map, define the dimensions, and interpret the results.

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Linear Discriminant Analysis

Marketing

Discriminant_analysis > Applications > Marketing

The statistical program (or a related module) will map the results. The map will plot each product (usually in two-dimensional space).

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Linear Discriminant Analysis

Marketing

Discriminant_analysis > Applications > Marketing

The distance of products to each other indicate either how different they are. The dimensions must be labelled by the researcher. This requires subjective judgement and is often very challenging. See perceptual mapping.

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Focus Group

Marketing

Focus_Group > Use in disciplines > Marketing

In marketing, focus groups are seen as an important tool for acquiring feedback regarding new products and other marketing-related topics. Focus groups are usually employed in the early stages of product or concept development, when organizations are trying to determine the overall direction of a marketing initiative. Participants are recruited on the basis of their similarity to members of the demographic groups targeted as potential consumers of the product. Focus groups allow companies wishing to develop, package, name, or test market a new product to get the perspective of potential consumers before the product is made available to the public.