Marketing Evaluation fundamentally alludes to an arrangement of measures that assist the advertising administrators with qualifying, look at and translate marketing performance. The main access to verify marketing performance is Marketing Metrics.
Evaluating marketing performance:
There are different methods followed by different companies in order to evaluate their marketing performance . some the methods are Marketing key performance indicators(KPIs) or metrics, Marketing performance management, Marketing return on investment and accountable marketing etc. This are some methods which the companies use to connect their marketing performance and financial performance of the organization.(Robert Morello,2016)
Seven ways to evaluate the marketing plan:
The marketing plan is nothing but which acts the blue print of the company’s sales in coming years. Marketing ought not be gotten under way and left alone, but rather continually investigated, assessed and conformed to suit the requirements of the organization and the needs of the consumer.
- ROI(Return on investment): This is the main concern of the marketing strategy or any business, the main idea is to check whether we get the profits for our investments or not. (Robert Morello,2016)
- Sales Number: Perusing the numbers can be the speediest and most essential approach to figure out if your plan is working. (Robert Morello,2016)
- Customer Response: This is the main part of the strategy, the response of the customers in different forms will help us to determine whether our plan is working or not. And can help us to make any changes require to gain their 100% satisfaction. (Robert Morello,2016)
- Expansion: If the business is expanding that means the marketing plan is the reason for it. Promoting that advances into new locales either by client proposal or regular development demonstrates both a fruitful and well known item or experience and a viable advertising message. (Robert Morello,2016)
- Salespeople: We should also know the feedback from our salespeople whether the plan implemented is able to reach the customers and make them satisfactory. (Robert Morello,2016)
- Partner response: You’re promoting accomplices will offer criticism about whether you’re advertising arrangement is working. Accomplice input uncovers the viability of your endeavors in connection to related brands, suppliers and merchants. (Robert Morello,2016)
- Competitor Response: The activities of your rivals can regularly be extremely advising with regards to the achievement or disappointment of your promoting arrangement. On the off chance that contenders race to duplicate what you’ve done or attempt their best to one-up your drives, the plan is working. (Robert Morello,2016)
Main goals the good brand include:
1.It conveys the message purely and clearly.
2.It will convince the buyer.
Marketing Evaluation Marketing Metrics
Brand image of Samsung: This is an essential part of the company’s marketing plan and consumer behavior research (Dobni &Zinkhan,1990).
Return on investment of Samsung:
Mission of Samsung it to become the world’s largest electronic good seller.(Ilse Jurrien,2005) For achieving this goal and gaining ROI Samsung has developed a team which is called Global marketing team it has three layers
i) Product strategy team: Main task is to do market research and collecting the data of their rivals.
ii)Marketing strategy team: Their main goal is to present the core message of Samsung to the customers and undertake every promotional activities. If take an example Samsung does all its promotional events through Face book(Yung, M 2015). Samsung has spend almost $14 billion on marketing galaxy products and other products.(Smith,2013)
The main step of the marketing metrics is the customer profile metric, we should try to know the customers perspective on Samsung . The proof demonstrates that Samsung pulled in parcel of clients it makes a decent picture in client’s brain. In the majority of items and Brand esteem range affirms that the client is dependable and fulfilled by the brand. In Eco-friendly blue earth phone are likewise installed with solar panel which helps in making .Samsung growing up from fourth to second in portable mobile market share. In present days people not only use mobile phone for communication but used as fashion device. It concentrates on all age groups but mainly on teenagers as they will be very much interested.(Business Time,2010)
Strengths of Samsung are CDMA hand set market, its brand value, product quality and its network is largely distributed, with all this it attracted the customers and growing rapidly.
The main things in this section is about the financial position of the company and the sales of the company’s products and the market share.
Now if we consider the sales of Samsung from the first quarter of 2010 to third quarter of 2015 there are slight ups and downs but at last in the final quarter of 2015 it was with an operating profit around 3%. If we take in 2010 the operating margin is around 35% and at the end of 2015 it is almost 47%, with which we can clearly understand Samsungs growth by looking at its profits. This all is achieved only through perfect marketing plan and evaluation.( Samsung Jackdaw research analysis)
Samsung has made part of fascination among clients amid a year ago and these days additionally by utilizing diverse advertising techniques. The main of the CEO is to make Samsung as Global brand through perfect marketing strategies like sponsor in Olympics. It also worried to the nature and propelled the items that are Eco-friendly.
2.Analysis of marketing and brand strategies: Ilse Jurrien,2005
3.In search of a brand image : A foundation analysis-Dobni &Zinkhan,199
4.Seven ways to evaluate your marketing plan-Robert Morello,2016
5. Article by Android Authority on Samsung-Chris Smith,2013.