AIDA is an acronym that stands for Attention, Interest and Action. The AIDA model is used in marketing and advertising to describe the steps or stages that occur from the time when a consumer first becomes aware of a product or brand through to when the consumer trials a product or makes a purchase decision. Given that many consumers become aware of brands via advertising or marketing communications, the AIDA model helps to explain how an advertisement or marketing communications message engages and involves consumers in brand choice. In essence, the AIDA model proposes that advertising messages need to accomplish a number of tasks in order to move the consumer through a series of sequential steps from brand awareness through to action; the AIDA model is one of the longest serving models used in advertising, having been developed in the late nineteenth century. Since its first appearance in the marketing and advertising literature, the model has been modified and expanded to account for the advent of new advertising media and communications platforms.
A number of modified alternative models are in current use. During the past 100 years, the model has undergone many refinements and extensions, such that today there are many variants in circulation. Thus, the simple AIDA model is now one of a class of models, collectively known as hierarchical models or hierarchy of effects models; the AIDA model is just one of a class of models known as hierarchy of effects models or hierarchical models, all of which imply that consumers move through a series of steps or stages when they make purchase decisions. These models are linear, sequential models built on an assumption that consumers move through a series of cognitive and affective stages culminating in a behavioural stage stage; the steps proposed by the AIDA model are as follows: Attention – The consumer becomes aware of a category, product or brand ↓Interest – The consumer becomes interested by learning about brand benefits & how the brand fits with lifestyle↓Desire – The consumer develops a favorable disposition towards the brand↓Action – The consumer forms a purchase intention, shops around, engages in trial or makes a purchaseThe common thread among all hierarchical models is that advertising operates as a stimulus and the purchase decision is a response.
In other words, the AIDA model is an applied stimulus-response model. A number of hierarchical models can be found in the literature including Lavidge's hierarchy of effects, DAGMAR and variants of AIDA. Hierarchical models have dominated advertising theory, and, of these models, the AIDA model is one of the most applied; as consumers move through the hierarchy of effects they pass through both a cognitive processing stage and an affective processing stage before any action occurs. Thus the hierarchy of effects models all include Cognition - Affect - Behaviour as the core steps in the underlying behavioral sequence; some texts refer to this sequence as C-A-B models. Cognition → Affect → Behavior The basic AIDA model is one of the longest serving hierarchical models, having been in use for more than a century. Using a hierarchical system, such as AIDA, provides the marketer with a detailed understanding of how target audiences change over time, provides insights as to which types of advertising messages are to be more effective at different junctures.
Moving from step to step, the total number of prospects diminishes. This phenomenon is sometimes described as a "purchase funnel". A large number of potential purchasers become aware of a product or brand a smaller subset becomes interested, with only a small proportion moving through to the actual purchase; this effect is known as a "customer funnel", "marketing funnel", or "sales funnel". The model is used extensively in selling and advertising. According to the original model, "the steps to be taken by the seller at each stage are as follows: Stage I. Secure attention. Stage II. Hold attention Through Interest. Stage III. Arouse Desire. Stage IV. Create Confidence and Belief. Stage V. Secure Decision and Action. Stage VI. Create Satisfaction." A major deficiency of the AIDA model, other hierarchical models, is the absence of post-purchase effects such as satisfaction, repeat patronage behaviour and other post-purchase behavioural intentions such as referrals or participating in the preparation of online product reviews.
Other criticisms include the model's reliance on hierarchical sequence. In empirical studies, the model has been found to be a poor predictor of actual consumer behaviour. In addition, an extensive review of the literature surrounding advertising effects, carried out by Vakratsas and Ambler found little empirical support for the hierarchical models. Another important criticism of the hierarchical models include their reliance on the concept of a linear, hierarchical response process. Indeed, some research suggests that consumers process promotional information via dual pathways, namely both cognitive and affective simultaneously; this insight has led to the development of a class of alternative models, known as integrative models. In order to redress some of the model's deficiencies, a number of contemporary hierarchical have modified or expanded the basic AIDA model; some of these include post purchase stages, while other variants feature adaptations designed to accommodate the role of new and interactive media, including social media and brand communities.
However, all follow the basic
Marketing is the study and management of exchange relationships. Marketing is the business process of satisfying customers. With its focus on the customer, marketing is one of the premier components of business management. Marketing is defined by the American Marketing Association as "the activity, set of institutions, processes for creating, communicating and exchanging offerings that have value for customers, clients and society at large." The term developed from the original meaning which referred to going to market with goods for sale. From a sales process engineering perspective, marketing is "a set of processes that are interconnected and interdependent with other functions" of a business aimed at achieving customer interest and satisfaction. Philip Kotler defines marketing as Satisfying wants through an exchange process; the Chartered Institute of Marketing defines marketing as "the management process responsible for identifying and satisfying customer requirements profitably." A similar concept is the value-based marketing which states the role of marketing to contribute to increasing shareholder value.
In this context, marketing can be defined as "the management process that seeks to maximise returns to shareholders by developing relationships with valued customers and creating a competitive advantage."Marketing practice tended to be seen as a creative industry in the past, which included advertising and selling. However, because the academic study of marketing makes extensive use of social sciences, sociology, economics and neuroscience, the profession is now recognized as a science, allowing numerous universities to offer Master-of-Science programs; the process of marketing is that of bringing a product to market, which includes these steps: broad market research. Many parts of the marketing process involve use of the creative arts. The'marketing concept' proposes that in order to satisfy the organizational objectives, an organization should anticipate the needs and wants of potential consumers and satisfy them more than its competitors; this concept originated from Adam Smith's book The Wealth of Nations, but would not become used until nearly 200 years later.
Marketing and Marketing Concepts are directly related. Given the centrality of customer needs and wants in marketing, a rich understanding of these concepts is essential: Needs: Something necessary for people to live a healthy and safe life; when needs remain unfulfilled, there is a clear adverse outcome: death. Needs can be objective and physical, such as the need for food and shelter. Wants: Something, desired, wished for or aspired to. Wants are not essential for basic survival and are shaped by culture or peer-groups. Demands: When needs and wants are backed by the ability to pay, they have the potential to become economic demands. Marketing research, conducted for the purpose of new product development or product improvement, is concerned with identifying the consumer's unmet needs. Customer needs are central to market segmentation, concerned with dividing markets into distinct groups of buyers on the basis of "distinct needs, characteristics, or behaviors who might require separate products or marketing mixes."
Needs-based segmentation "places the customers' desires at the forefront of how a company designs and markets products or services." Although needs-based segmentation is difficult to do in practice, it has been proved to be one of the most effective ways to segment a market. In addition, a great deal of advertising and promotion is designed to show how a given product's benefits meet the customer's needs, wants or expectations in a unique way. A marketing orientation has been defined as a "philosophy of business management." Or "a corporate state of mind" or as an "organisation culture" Although scholars continue to debate the precise nature of specific orientations that inform marketing practice, the most cited orientations are as follows: A firm employing a product orientation is concerned with the quality of its own product. A product orientation is based on the assumption that, all things being equal, consumers will purchase products of a superior quality; the approach is most effective when the firm has deep insights into customers and their needs and desires derived from research and intuition and understands consumers' quality expectations and price they are willing to pay.
For example, Sony Walkman and Apple iPod were innovative product designs that addressed consumers' unmet needs. Although the product orientation has been supplanted by the marketing orientation, firms practicing a product orientation can still be found in haute couture and in arts marketing. A firm using a sales orientation focuses on the selling/promotion of the firm's existing products, rather than determining new or unmet consumer needs or desires; this entails selling existing products, using promotion and direct sales techniques to attain the highest sales possible. The sales orientation "is practiced with unsought goods." One study found that industrial companies are more to hold a sales orientation than consumer goods companies. The approach may suit scenarios in wh
Sales are activities related to selling or the number of goods or services sold in a given time period. The seller, or the provider of the goods or services, completes a sale in response to an acquisition, requisition or a direct interaction with the buyer at the point of sale. There is a passing of title of the item, the settlement of a price, in which agreement is reached on a price for which transfer of ownership of the item will occur; the seller, not the purchaser executes the sale and it may be completed prior to the obligation of payment. In the case of indirect interaction, a person who sells goods or service on behalf of the owner is known as a salesman or saleswoman or salesperson, but this refers to someone selling goods in a store/shop, in which case other terms are common, including salesclerk, shop assistant, retail clerk. In common law countries, sales are governed by the common law and commercial codes. In the United States, the laws governing sales of goods are somewhat uniform to the extent that most jurisdictions have adopted Article 2 of the Uniform Commercial Code, albeit with some non-uniform variations.
A persons or organization expressing an interest in acquiring the offered item of value is referred to as a potential buyer, prospective customer or prospect. Buying and selling are understood to be two sides of the same "coin" or transaction. Both seller and buyer engage in a process of negotiation to consummate the exchange of values; the exchange, or selling, process has implied identifiable stages. It is implied that the selling process will proceed and ethically so that the parties end up nearly rewarded; the stages of selling, buying, involve getting acquainted, assessing each party's need for the other's item of value, determining if the values to be exchanged are equivalent or nearly so, or, in buyer's terms, "worth the price". Sometimes, sellers have to use their own experiences when selling products with appropriate discounts. Although the skills required are different, from a management viewpoint, sales is a part of marketing. Sales form a separate grouping in a corporate structure, employing separate specialist operatives known as salespersons.
Selling is considered by many to be a sort of persuading "art". Contrary to popular belief, the methodological approach of selling refers to a systematic process of repetitive and measurable milestones, by which a salesman relates his or her offering of a product or service in return enabling the buyer to achieve their goal in an economic way. According to a 2018 survey of salespeople, selling has become more difficult in recent years due to changes in technology and general access to prospects. While the sales process refers to a systematic process of repetitive and measurable milestones, the definition of the selling is somewhat ambiguous due to the close nature of advertising, public relations, direct marketing. Selling is the profession-wide term, much like marketing defines a profession. Attempts have been made to understand, in the sales profession, and, not. There are many articles looking at marketing, advertising and public relations as ways to create a unique transaction. Many believe that the focus of selling is on the human agents involved in the exchange between buyer and seller.
Effective selling requires a systems approach, at minimum involving roles that sell, enable selling, develop sales capabilities. Selling involves salespeople who possess a specific set of sales skills and the knowledge required to facilitate the exchange of value between buyers and sellers, unique from marketing, etc. Within these three tenets, the following definition of professional selling is offered by the American Society for Training and Development: Team selling is one way to influence sales. Team selling is "a group of people representing the sales department and other functional areas in the firm, such as finance and research and development". Team selling came about in the 1990s through total quality management. TQM occurs when companies work to improve their customer satisfaction by improving all of their operations. Marketing and sales differ but have the same goal. Selling is the final stage in marketing. A marketing plan includes pricing, promotion and product. A marketing department in an organization has the goals of increasing the desirability and value of the products and services to the customer, increasing the number and engagement of successful interactions between potential customers and the organization.
Achieving this goal may involve the sales team using promotional techniques such as advertising, sales promotion and public relations, creating new sales channels, or creating new products. It can include encouraging the potential customer to visit the organization's website, contact the organization for more information, or interact with the organization via social media channels such as Twitter and blogs. Social values play a major role in consumer decision processes. Marketing is the whole of the work on persuasion made for the whole of the target people. Sales is the process of persuasion and effort from one person to one person, or one person to a corporation, in order to make a living resource enter the company; this may occur over the phone or digitally. The field of sales process engineering views "sales" as the output of a larger system, not just as the output of one department; the larger system includes many functional areas within an organization. From this perspec
Arthur Andersen LLP, based in Chicago, was an American holding company. One of the "Big Five" accounting firms, the firm had provided auditing and consulting services to large corporations. By 2001, it had become one of the world's largest multinational companies. In 2002, the firm voluntarily surrendered its licenses to practice as Certified Public Accountants in the United States after being found guilty of criminal charges relating to the firm's auditing of Enron, an energy corporation based in Texas, which filed for bankruptcy in 2001. In 2005, the Supreme Court of the United States unanimously reversed Arthur Andersen's conviction due to serious errors in the trial judge's instructions to the jury that convicted the firm; the former consultancy and outsourcing practice of the firm separated from the firm's accountancy practice and split from Andersen Worldwide in 2000 whereby it renamed itself Accenture. It continues to operate. Born 30 May 1885 in Plano and orphaned at the age of 16, Arthur E. Andersen began working as a mail boy by day and attended school at night being hired as the assistant to the comptroller of Allis-Chalmers in Chicago.
In 1908, after attending courses at night while working full-time, he graduated from the Kellogg School at Northwestern University with a bachelor's degree in business. That same year, at age 23, he became the youngest CPA in Illinois; the firm of Arthur Andersen was founded in 1913 by Arthur Andersen and Clarence DeLany as Andersen, DeLany & Co. The firm changed its name to Arthur Andersen & Co. in 1918. Arthur Andersen's first client was the Joseph Schlitz Brewing Company of Milwaukee. In 1915, due to his many contacts there, the Milwaukee office was opened as the firm's second office. Andersen had an unwavering faith in education as the basis upon which the new profession of accounting should be developed, he created the profession's first centralized training program and believed in training during normal working hours. He was generous in his commitment to aiding educational and charitable organizations. In 1927, he was elected to the board of trustees of Northwestern University and served as its president from 1930 to 1932.
He was chairman of the board of certified public accountant examiners of Illinois. Andersen, who headed the firm until his death in 1947, was a zealous supporter of high standards in the accounting industry. A stickler for honesty, he argued that accountants' responsibility was to investors, not their clients' management. For many years, Andersen's motto was "Think straight, talk straight"–an axiom passed on from his mother. During the early years, it is reputed that Andersen was approached by an executive from a local rail utility to sign off on accounts containing flawed accounting, or else face the loss of a major client. Andersen refused in no uncertain terms, replying that there was "not enough money in the city of Chicago" to make him do it; the railroad fired Andersen. Arthur Andersen led the way in a number of areas of accounting standards. Being among the first to identify a possible sub-prime bust, Arthur Andersen dissociated itself from a number of clients in the 1970s. With the emergence of stock options as a form of compensation, Arthur Andersen was the first of the major accountancy firms to propose to the FASB that stock options should be included on expense reports, thus impacting on net profit just as cash compensation would.
By the 1980s, standards throughout the industry fell as accountancy firms struggled to balance their commitment to audit independence against the desire to grow their burgeoning consultancy practices. Having established a reputation for IT consultancy in the 1980s, Arthur Andersen was no exception; the firm expanded its consultancy practice to the point where the bulk of its revenues were derived from such engagements, while audit partners were continually encouraged to seek out opportunities for consulting fees from existing audit clients. By the late-1990s, Arthur Andersen had succeeded in tripling the per-share revenues of its partners. Predictably, Arthur Andersen struggled to balance the need to maintain its faithfulness to accounting standards with its clients' desire to maximize profits in the era of quarterly earnings reports. Arthur Andersen has been alleged to have been involved in the fraudulent accounting and auditing of Sunbeam Products, Waste Management, Asia Pulp & Paper, the Baptist Foundation of Arizona, WorldCom, as well as the infamous Enron case, among others.
Two of the last three Comptrollers General of the US General Accounting Office were top executives of Arthur Andersen. The consulting wing of the firm became important during the 1970s and 1980s, growing at a much faster rate than the more established accounting and tax practice; this disproportionate growth, the consulting division partners' belief that they were not garnering their fair share of firm profits, created increasing friction between the two divisions. In 1989, Arthur Andersen and Andersen Consulting became separate units of Andersen Worldwide Société Coopérative. Arthur Andersen increased its use of accounting services as a springboard to sign up clients for Andersen Consulting's more lucrative business; the two businesses spent most of the 1990s in a bitter dispute. Andersen Consulting saw a huge surge in profits during the decade; the consultants, continued to resent transfer payments they were required to make to Arthur Andersen. In August 2000, at the conclusion of International Chamber of Commerce arbitration of the dispute, the arbitrators granted Andersen Consulting its independence f
The Sarbanes-Oxley Act of 2002 known as the "Public Company Accounting Reform and Investor Protection Act" and "Corporate and Auditing Accountability and Transparency Act" and more called Sarbanes–Oxley, Sarbox or SOX, is a United States federal law that set new or expanded requirements for all U. S. public company boards and public accounting firms. A number of provisions of the Act apply to held companies, such as the willful destruction of evidence to impede a federal investigation; the bill, which contains eleven sections, was enacted as a reaction to a number of major corporate and accounting scandals, including Enron and WorldCom. The sections of the bill cover responsibilities of a public corporation's board of directors, add criminal penalties for certain misconduct, require the Securities and Exchange Commission to create regulations to define how public corporations are to comply with the law. In 2002, Sarbanes-Oxley was named after bill sponsors U. S. Senator Paul Sarbanes and U. S.
Representative Michael G. Oxley; as a result of SOX, top management must individually certify the accuracy of financial information. In addition, penalties for fraudulent financial activity are much more severe. SOX increased the oversight role of boards of directors and the independence of the outside auditors who review the accuracy of corporate financial statements; the bill, which contains eleven sections, was enacted as a reaction to a number of major corporate and accounting scandals, including those affecting Enron, Tyco International, Peregrine Systems, WorldCom. These scandals cost investors billions of dollars when the share prices of affected companies collapsed, shook public confidence in the US securities markets; the act contains eleven titles, or sections, ranging from additional corporate board responsibilities to criminal penalties, requires the Securities and Exchange Commission to implement rulings on requirements to comply with the law. Harvey Pitt, the 26th chairman of the SEC, led the SEC in the adoption of dozens of rules to implement the Sarbanes-Oxley Act.
It created a new, quasi-public agency, the Public Company Accounting Oversight Board, or PCAOB, charged with overseeing, regulating and disciplining accounting firms in their roles as auditors of public companies. The act covers issues such as auditor independence, corporate governance, internal control assessment, enhanced financial disclosure; the nonprofit arm of Financial Executives International, Financial Executives Research Foundation, completed extensive research studies to help support the foundations of the act. The act was approved in the House by a vote of 423 in favor, 3 opposed, 8 abstaining and in the Senate with a vote of 99 in favor and 1 abstaining. President George W. Bush signed it into law, stating it included "the most far-reaching reforms of American business practices since the time of Franklin D. Roosevelt; the era of low standards and false profits is over. In response to the perception that stricter financial governance laws are needed, SOX-type regulations were subsequently enacted in Canada, South Africa, Australia, Japan, Italy and Turkey.
Debates continued as of 2007 over the perceived benefits and costs of SOX. Opponents of the bill have claimed it has reduced America's international competitive edge against foreign financial service providers because it has introduced an overly complex regulatory environment into US financial markets. A study commissioned by NYC Mayor Michael Bloomberg and US Sen. Chuck Schumer, cited this as one reason America's financial sector is losing market share to other financial centers worldwide. Proponents of the measure said that SOX has been a "godsend" for improving the confidence of fund managers and other investors with regard to the veracity of corporate financial statements; the 10th anniversary of SOX coincided with the passing of the Jumpstart Our Business Startups Act, designed to give emerging companies an economic boost, cutting back on a number of regulatory requirements. Public Company Accounting Oversight Board Title I consists of nine sections and establishes the Public Company Accounting Oversight Board, to provide independent oversight of public accounting firms providing audit services.
It creates a central oversight board tasked with registering auditors, defining the specific processes and procedures for compliance audits and policing conduct and quality control, enforcing compliance with the specific mandates of SOX. Auditor Independence Title II consists of nine sections and establishes standards for external auditor independence, to limit conflicts of interest, it addresses new auditor approval requirements, audit partner rotation, auditor reporting requirements. It restricts auditing companies from providing non-audit services for the same clients. Corporate Responsibility Title III consists of eight sections and mandates that senior executives take individual responsibility for the accuracy and completeness of corporate financial reports, it defines the interaction of external auditors and corporate audit committees, specifies the responsibility of corporate officers for the accuracy and validity of corporate financial reports. It enumerates specific limits on the behaviors of corporate officers and describes specific forfeitures of benefits and civil penalties for non-compliance.
For example, Section 302 requires that the company's "
Computer hardware includes the physical, tangible parts or components of a computer, such as the cabinet, central processing unit, keyboard, computer data storage, graphics card, sound card and motherboard. By contrast, software is instructions that can be run by hardware. Hardware is so-termed because it rigid with respect to changes or modifications. Intermediate between software and hardware is "firmware", software, coupled to the particular hardware of a computer system and thus the most difficult to change but among the most stable with respect to consistency of interface; the progression from levels of "hardness" to "softness" in computer systems parallels a progression of layers of abstraction in computing. Hardware is directed by the software to execute any command or instruction. A combination of hardware and software forms a usable computing system, although other systems exist with only hardware components; the template for all modern computers is the Von Neumann architecture, detailed in a 1945 paper by Hungarian mathematician John von Neumann.
This describes a design architecture for an electronic digital computer with subdivisions of a processing unit consisting of an arithmetic logic unit and processor registers, a control unit containing an instruction register and program counter, a memory to store both data and instructions, external mass storage, input and output mechanisms. The meaning of the term has evolved to mean a stored-program computer in which an instruction fetch and a data operation cannot occur at the same time because they share a common bus; this is referred to as the Von Neumann bottleneck and limits the performance of the system. The personal computer known as the PC, is one of the most common types of computer due to its versatility and low price. Laptops are very similar, although they may use lower-power or reduced size components, thus lower performance; the computer case encloses most of the components of the system. It provides mechanical support and protection for internal elements such as the motherboard, disk drives, power supplies, controls and directs the flow of cooling air over internal components.
The case is part of the system to control electromagnetic interference radiated by the computer, protects internal parts from electrostatic discharge. Large tower cases provide extra internal space for multiple disk drives or other peripherals and stand on the floor, while desktop cases provide less expansion room. All-in-one style designs include a video display built into the same case. Portable and laptop computers require cases. A current development in laptop computers is a detachable keyboard, which allows the system to be configured as a touch-screen tablet. Hobbyists may decorate the cases with colored lights, paint, or other features, in an activity called case modding. A power supply unit converts alternating current electric power to low-voltage DC power for the internal components of the computer. Laptops are capable of running from a built-in battery for a period of hours; the motherboard is the main component of a computer. It is a board with integrated circuitry that connects the other parts of the computer including the CPU, the RAM, the disk drives as well as any peripherals connected via the ports or the expansion slots.
Components directly attached to or to part of the motherboard include: The CPU, which performs most of the calculations which enable a computer to function, is sometimes referred to as the brain of the computer. It is cooled by a heatsink and fan, or water-cooling system. Most newer CPUs include an on-die graphics processing unit; the clock speed of CPUs governs how fast it executes instructions, is measured in GHz. Many modern computers have the option to overclock the CPU which enhances performance at the expense of greater thermal output and thus a need for improved cooling; the chipset, which includes the north bridge, mediates communication between the CPU and the other components of the system, including main memory. Random-access memory, which stores the code and data that are being accessed by the CPU. For example, when a web browser is opened on the computer it takes up memory. RAM comes on DIMMs in the sizes 2GB, 4GB, 8GB, but can be much larger. Read-only memory, which stores the BIOS that runs when the computer is powered on or otherwise begins execution, a process known as Bootstrapping, or "booting" or "booting up".
The BIOS includes power management firmware. Newer motherboards use Unified Extensible Firmware Interface instead of BIOS. Buses that connect the CPU to various internal components and to expand cards for graphics and sound; the CMOS battery, which powers the memory for date and time in the BIOS chip. This battery is a watch battery; the video card, which processes computer graphics. More powerful graphics cards are better suited to handle strenuous tasks, such as playing intensive video games. An expansion card in computing is a printed circuit board that can be inserted into an expansion slot of a computer motherboard or