Learn more about big data, marketing analytics, and successful integration Read

Question

Learn more about big data, marketing analytics, and successful integration Read the Forbes article “Marketing Analytics Cheat Sheet for CEOs https://www.forbes.com/sites/forbesinsights/2014/05/19/an-advanced-marketing-analytics-cheat-sheet-for-ceos/#44a93ae04029 If you want to go deeper on the analytics discussed, peruse the optional Harvard Business Review article https://hbr.org/2013/03/advertising-analytics-20 do you think marketing is more art than science, or vice versa? Defend your point of view. Does the art or science side of marketing appeal more ? Why?

Explanation / Answer

Marketing is neither more of science nor more of art rather it is mix of both science and art because:

1) The Art side of marketing - To make marketing of your product or brand more effective and appealing to the audience, it is neccessary to be creative to make your brand unique and special. Lack of creativity will lead to an unsuccessful marketing. Marketing is all about creating ads, organising campaigns, designing logos and slogans, etc. all of these things require creativity.

2) The Science side of marketing - For designing relevant marketing strategies and gaining competitive advantage through innovation, it is neccessary to have all the data about various trends in the market like needs of customers, the price they are willing to pay, the motives of consumers, etc. For testing the results of your efforts like campaigns, advetisement, there should be proper scientific methods to calculate the success of these things so that the company can know which strategy is not working and where to allocate the money judiciously.

Thus, it is better to say that marketing is a combination both art and science. Both the art and science side are equally appealing. Absence of anyone of these will make marketing unappealing. So it is neccessay to strike a balance between both of them.

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