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Marketing Efficiency & Efficient Marketing

Marketing Efficiency & Efficient Marketing “Economics is not an exact science. It consists merely of laws of probability. The most prudent investor is one who pursues only a general course of action which is ‘ normally ’ right and who avoids acts and policies which are ‘ normally ’ wrong.”

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Marketing Efficiency & Efficient Marketing

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  1. Marketing Efficiency & Efficient Marketing

  2. “Economics is not an exact science. It consists merely of laws of probability. The most prudent investor is one who pursues only a general course of action which is ‘normally’ right and who avoids acts and policies which are ‘normally’wrong.” L.L.B. Angus

  3. Price = f(expected Supply, expected Demand)

  4. MARKET EFFICIENCY & PRICING The efficient market theory conceptualizes markets as information.

  5. MARKET EFFICIENCY & PRICING An efficient market is a market which incorporates all currently available information when determining price.

  6. MARKET EFFICIENCY & PRICING To earn a profit it is not enough to know that price will change, the direction in which price will change must be known.

  7. MARKET EFFICIENCY & PRICING Profit is earned by people or companies who acquire information relevant to the market before anyone else in the market.

  8. MARKET EFFICIENCY & PRICING Information per se is not useful without analysis that places it in the context of existing information. Therefore another method for earning profit is to analyze existing information better than the collective analytical ability of the market.

  9. MARKET EFFICIENCY & PRICING Few people/companies consistently earn large profits from pricing decisions and these people earn their profits from their information and/or analysis.

  10. MARKET EFFICIENCY & PRICING Producers/lenders not obtain data first. Need bench-marks Need volume to make marketing effort worth the return. Nearly impossible to predict prices.

  11. MARKET EFFICIENCY & PRICING 5. Make decisions based on probabilities. Decisions based on what is normally right and avoid what is normally wrong.

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