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Compare and Contrast the Concepts of "Share of Market (SOM)

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Essay

Compare and contrast the concepts of "share of market (SOM)" and "share of voice (SOV)," and discuss the implications for advertising budgeting.


Definitions:

Gut Feelings

Intuitive judgments and responses that one cannot articulately rationalize, often based on experience.

Intuition

The capacity to grasp concepts intuitively, without relying on deliberate thought.

Rapidly Formed

Quickly developed or put together, often with little preparation or forethought.

Representativeness Heuristic

A cognitive shortcut that involves making decisions based on how closely new information resembles existing stereotypes or prototypes.

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