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Australian Privacy Principles

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Australian Privacy Principles (APPs) The APPs are part of the Privacy Act 1988 and regulate the handling of personal information by Australian businesses. Compliance with the APPs is crucial for marketing operations to ensure the lawful and ethical handling of customer data, including obtaining consent for marketing activities and protecting individuals' privacy rights. Failure to comply can result in penalties and reputational damage. Code of Practice Australian Association of National Advertisers (AANA) Code of Ethics The AANA Code of Ethics provides guidelines for ethical advertising practices in Australia, covering areas such as truthfulness, accuracy, and respect for consumers. Adhering to this code helps maintain consumer trust, promotes …show more content…

Financial Data Example Sales revenue Revenue from product X Cost per acquisition Cost of acquiring new customers Profit margin Profit margin on service Y Customer lifetime value Lifetime value of a customer Example: • Financial Data Example: Sales revenue data can help identify which products or services are performing well in the market, indicating potential marketing opportunities for further promotion or expansion. Marketing Data Example: Market research findings, such as consumer preferences or trends, can reveal untapped segments or needs in the market, guiding the development of targeted marketing strategies and new product offerings. 5.Market Strategies: Explanation: -Market Penetration: Involves increasing sales of existing products/services in existing markets through strategies like aggressive marketing or pricing adjustments. Market Development: Entails expanding into new markets, whether geographically or demographically, with existing products/services. Product Development: Involves creating new products/services for current markets, often through innovation or responding to market

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