Name of the Student- Abhishek Ghartan
Student Id – 215152804
Username – avi1108
Marketing evaluation in Australia refers to the process of planning of product development, sales and advertisement in the current marketing strategy. Creation of advertising plan and making implementation of that plan is the example of marketing management. Marketing metrics refers to a specific tool which helps the marketers in measurement of quantity, rate, compare and interpret marketing performance. The best examples of this marketing metrics companies are Woolworths and AWB limited in Australia.
As these companies are the largest retail company in Australia by its revenue nature, it must include the supermarket segmentation in the country. The marketing metrics of an organization measures the performance of business by the manager. The company needs this metrics to report the performance of the company to various stakeholders because the needs of the market are accountable (Huang and Sarigöllü 2014).
There are different types of marketing metrics in the Company of Australia such as metrics of finance, metrics of behavior, metrics of memory, metrics of physical availability, metrics of marketing activity and metrics of customer profiles. There are some specific products of the marketing management from which one can be chosen for the best clarification of the report that is segmentation, targeting and positioning. These strategies are discussed one by one in the marketing management of the Australian company (Huang and Sarigöllü 2014).
Some organizations has applied the formulation of Segmentation, Targeting and positioning (STP) in Australia. The STP model of the company contains three steps by which it can analyze the way of communication benefits and value of the marketing strategy. These three strategies are the current situation of in-depth analysis of the company (Valenzuela 2013).
According to Doyle, there are five factors in the company in Australia by which the company has more attraction of the segment in the marketing metric;
- Size of segment.
- Growth of segment.
- Segment profitability.
- Potential and current competition.
- Business capabilities.
In the sense of marketing metrics of the Company, these segmentations are no longer profitable as well as no longer applicable in the current marketing because of the competition and changes of customer needs, there are greater needs of these segments strategy because the buyer’s need has changed in today’s marketing metrics (Proctor 2012).
Targeting is the second step of marketing management of the company in Australia. Targeting refers to the number of goods produced by the company as per marketing metrics. It contains the quantity and rate of the product in the marketing strategy. In this step of market segmentation the company targets its best customers to buy the products. There is marketing metrics to measure the performance and guideline of the company (Katsikeas et al. 2016).
According to Garberson 2015, the marketing metrics in the company analyzes the size and potential growth of the product in the current market segmentation. Metrics are needed for the marketers because it provides information of diagnosis about improvement and development of the products of the company. Generally, the marketing metrics spend money to make more money with the help of targeting steps of marketing segmentation (Zyman 2013).
Positioning is the last step of marketing management of an organization which has the goals to identify the position of the product in the market for targeting the customer segmentation which is more valuable in the market. Product positioning is the main ingredient of the marketing segmentation by which the company measures its selling and development effectiveness strategy that would attract the customers of the targeted marketing regions. In this step of marketing the organization gives more focus on the product to face competition in the metrics of market segmentation. The model of STP helps the organization to make better position of the product in the marketing segmentation (Silva-Esclana 2013).
From the above discussion of marketing management it has been concluded that with the increase in demand and expansion of global market, the distribution system has changed a lot. Online product distribution is the best example of it. It is a specific tool which helps the marketers in measurement of quantity, rate, compare and interpret marketing performance. The study has chosen the examples of Woolworths and AWB limited to evaluate the marketing metrics of a management company in Australia.
Nowadays, the decision-makers taking considering the speed and efficiency level of marketing management and they are taking decisions according to that. All the necessary information has to be incorporated by the metrics. The study shows that the marketing metrics increases the performance and help in the development of the company. There are different types of blogs in the strategy by which STP has been chosen and it has been discussed one by one. After finding of these strategies it has been concluded that for the growth of organization these strategic blogs are very much needed. These three models are required separately for the marketing management of the company in Australia.
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