Text annotation identifies and labels sentences with metadata to define characteristics of sentences. This could be highlighting parts of speech, grammar, phrases, keywords, emotions, and so on depending on the project. The better the quality and quantity of data, the better the model performs. In this article, you will understand different text annotation methods. 1. Sentiment Annotation Based on the emotion/sentiment associated with the response, the text is annotated. Sarcasm filled text should be understood as is, rather than being termed negative or positive. Sentiment is an important aspect here. Every sentence needs to be labelled based on the available ... Read More

The technique of scaling generates infinite values on the objects to be measured. These techniques help understand the relationship between the objects. Let us see the techniques − Comparative scales It is the direct comparison of objects. The types include − Rank Order Constant sum scaling Rank order One item is judged against the rest of the objects. The respondents contain several objects who rank/order the objects based on a criteria. Rank order scaling is ordinal in nature, that is, (n-1) scaling decisions are made in this technique. Constant sum scaling In this technique, a constant sum of ... Read More

The field of machine learning is developing rapidly, and the benefits are innumerable. Some of the benefits in the field of business have been listed below − Improved Consumer Experience Human efforts to interact with consumers have reduced and bots are used instead. This has helped with the automated and travail responses that are required at times. Human resources can be used for better tasks as well. Resource Planning Since patterns can be detected from data, the resources required can be planned, and can be utilised efficiently. This way, machine learning makes businesses cost effective too. Effective Predictions Predictions based ... Read More

What is Green Marketing Myopia? Green marketing myopia is the failure of businesses to comprehend that consumers care just as much about "what's in it for me?" as they do about "how is this good for the environment?" Perhaps even more so. Outside of eco-friendly product attributes, consumers are driven to items that satisfy their goals and requirements (such improved performance or lower cost). Businesses that entirely or significantly rely on promoting the advantages of natural and organic products without taking into account the immediate benefits to consumers may be setting themselves up for failure. Brands have to ... Read More

What is meant by Marketing Myopia? Theodor Levitt first proposed the phrase "market myopia" in a marketing report. In 1960, he made the claim that businesses may do more than merely selling their wares in an article that appeared in the Harvard Business Review. His key argument was that the marketer should put more emphasis on the requirements and satisfaction of the client than on making sales and filling consumers with their goods. He believed that people were living in the "selling idea, " where the goal was to use a push model rather than a pull model to ... Read More

What is SIVA Marketing Model? The existence of any business is essentially justified by its customers. Customers can be consumers who buy goods and/or services or business-to-business clients. In a market economy, a business thrives by creating products and providing services that consumers are eager to pay for. Therefore, determining customer demand is essential for a company's future profitability. Nowadays, a lot of businesses are customer-focused (or market orientation). This suggests that the business bases its operations and product development on consumer needs. Companies are better equipped to meet their demands when they adopt a customer-oriented mindset and put ... Read More

What is Event Marketing? (with example) Event marketing is the practice of a business sponsoring or participating in an event to promote its goods or services. To build solid bonds with their customers and enhance the brand's reputation, marketing teams organize marketing events as well. Online conferences and open-air seminars are two different types of events. Depending on the marketing objectives of the company, an event's purpose may change. For example, a company could hold a social gathering if it wants to increase client loyalty to its brand. If a company wants to raise brand recognition, it could participate in ... Read More

What is Promotion Mix in Marketing? To accomplish a certain marketing objective, a promotional mix combines marketing strategies such as direct marketing, sales, public relations, and advertising. Usually, the promotional mix is just a small component of the overall marketing mix. You might want to adopt a couple of the strategies or conclude that combining them all might be the best option for your campaign. Elements of Promotion Mix Businesses utilize four primary elements in the classic promotional mix to generate meaning for their service or product and convince the public to buy it − Advertising − Businesses ... Read More

Sales are the ultimate objective of marketing, which includes a wide range of activities. The development of B2B and B2C marketing concepts has received a lot of attention as globalisation, consumerism, and trade have all progressed. Let's go over these carefully. What is B2B Marketing? Business-to-business marketing, as its name suggests, refers to the promotion of goods and services to other corporations and enterprises. B2B marketing material is typically clear and informational in nature. This is because business buying decisions are based on the bottom-line revenue impact. Corporate decisionmakers place a high priority on return on investment (ROI). ... Read More

Price Mix in Marketing A sale is likely to occur only if the product is priced fairly, even if it is brilliant, in the right place, with excellent advertising. As a result, one of the most important elements influencing a buyer's choice is pricing. The position of a business might change overnight due to that one factor, which also directly impacts revenues and profits. Adopting pricing selections that are at odds with a firms’ competitive approach can be risky. Hence, businesses must approach the price mix with great care and prudence. Role / Importance of Pricing in Marketing Strategy ... Read More