Once we know the costs and effort inputs

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Marketing Formula In marketing, there is a time-tested formula: Cost - Effort - Results. This formula is used to evaluate the effectiveness of different marketing campaigns. For example, if you have a marketing budget of $100,000 and are deciding between using social media or direct mail, a smart marketer will not bet the entire budget on a single method.


Instead, they will test both methods at a small cost to measure the response rate. The cost is fixed, the effort is easily determined (often outsourced), and the results are measurable. From there, they can make decisions based on data, not gut feelings.


Applying Marketing Formula to Human italy whatsapp number data Resource Management Similarly, we can apply this formula to analyze the effectiveness of employee reward and motivation programs. we can survey employees to evaluate the impact of the program.


Example: A company had a good year and wanted to reward its employees by forming a committee to run fun activities in the office. The committee was given 50k per employee per week to create programs of their choice, provided they used a marketing formula.


They decided to test two options: Free lunch every Friday, cost 50k per employee. Free movie tickets every 2 weeks/1 Friday, cost 100k per employee. Since the cost was the same and both would be outsourced, they surveyed their employees beforehand to see which option they preferred.