Evaluating Apple’s marketing performance

What is marketing metrics?

The set of measures that are used by marketers to quantify, compare, and interpret marketing performance is known as marketing metrics. The evaluation of performance against organizational goal analyzed from numeric data is known as marketing metrics. The efficiency of marketing exercise of an organization are estimated using statistical data.

metrics

Why do organizations need metrics?

Organizations spend a lot of their financial plans on marketing endeavors since they comprehend that a business must be compelling if individuals know about the items and services offered by them. Since so much time and cash is spent on these advertising effort, wastefulness in these endeavors can injure to an organization’s fortunes. Subsequently, organizations by and large need to make principles to judge the viability of marketing. The effectiveness of the marketing strategy could be measured by marketing metrics.

 

How to evaluate marketing performance?

The marketing performance could be assessed by the following marketing metrics types. Memory metrics, Behavioral metrics, Financial metrics, Customer profile metrics and physical availability metrics.

Apple’s Marketing Metrics 

apple_logo_2015_03Financial metrics: In any business campaign, there is a definitive point to produce beneficial deals. Shareholders, advertisers anticipate that organization will amplify benefits to have most elevated profit for their speculations. For this organization use financial metrics to quantify deals incomes, minimize overhead costs, expanding gross edges and overseeing ventures to suitable hazard and expected returns (Lenskold, 2003).

ROI: The amount of profit generated by an organization for each dollar invested in the organization is known as Return on invested capital (ROIC).It links the corporate’s performance to valuation. The organization’s return on capital could be truly measured by ROIC. The Market bothers over the   values assigned to the organization that produce the most return over capital invested.

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It is obvious that Apple tops the market for return of investment share for capital according to the third quarter for the year 2016. Apple has exceptionally produced high profit for every dollar invested compared to other companies.

 

Behavioral metrics consist of sale, market share, market penetration, purchase frequency, share of category requirements, solely loyal customers, defection rate, and customer complaints and recommendations. In the other word, it have to consider how many unit did company sell? How much market share does company hold? How often do clients purchase? (Sharp, 2013).

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From financial results of apple inc. for the business year 2016 it can be seen that the company is doing good in terms of sales and market share. The quarterly net income is $7.8 billion and the revenue is $42.4 billion. The diluted earnings per share is $1.42. The gross margin is 38 % and international sales accounted for 63 % of quarter’s revenue. However, all of the figures when compared to the previous year has reduced slightly. Despite the slight decrease it can be inferred that the demand for the company’s products remain strong. The investors were returned $13 billion as dividends and share purchases.

Memory metrics: Memory metrics portray data that buyers have in their recollections in connection to a product or a brand. In addition, this measurement include brand awareness, brand image associations, mental availability, attitude, customer satisfaction and service quality, and Intention to buy a brand in the future (Sharp, 2013).

One doesn’t purchase smartphone, one buys ipod. One doesn’t purchase pc, one buys MacBook. Apple just doesn’t want to dominate the sales, but they want to inherit their own market. Hence customers have a strong mental connection with apple products which would make them compare other products to iPad, iPhone. Among the top selling smartphone brands in the US, iPhone has been rated 85 on a 0-100 scale according to the American Customer Satisfaction Index by US consumers. Apple has proved to be exceptional in building a reputation among the people that they innovative in designing and making unique products and gaining loyal customers.  With Apple’s service business growth 19 percent every year it ranks second highest in customer service satisfaction which is an all-time record.

 

215232279 / Gayathri Subramanian  

References

Investor.apple.com. (2016). Apple – Annual Report. [online] Available at: http://investor.apple.com/secfiling.cfm

Apple Newsroom. (2016). Apple Reports Third Quarter Results. [online] Available at: http://www.apple.com/newsroom/2016/07/apple-reports-third-quarter-results.html

Anon, (2016). [online] Available at: http://images.apple.com/newsroom/pdfs/q3fy16datasum.pdf

Theacsi.org. (2016). The American Customer Satisfaction Index Smartphone Brand Satisfaction Benchmarks. [online] Available at: https://www.theacsi.org/customer-satisfaction-benchmarks/benchmarks-by-brand/benchmarks-for-smartphones

Sharp, B. (2013), Marketing: Theory, Evidence, and Practice. Oxford University Press, Melbourne, Australia.

 

 

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Marketing metrics…where to start

Briarne Boyd

Student Number :ID: 216046983

 

In the current economic climate it is vital that an business is not only competitive but is able to analyse how through their marketing campaign they are competitive. As outlined by Iacobucci (2014) “you cant manage what you don’t measure”, this being said the potential for companies to analyse its strengths and weaknesses as well as those of its competitors is significant. With the development of IT and social media the indicators which can be measured is vast. Companies want to be assured that what they are spending on marketing is having a positive effect on their business.

This being said where does a company start with metrics? The metrics a company utilises need to be applicable to the specific company to enable effective analysis and strategy planning to enable the company to benefit. Potential metrics a company can utilise moves beyond the dollars and cents of a company and can be classified into these main categories:

  • financial metrics
  • behavioral metrics
  • memory metrics
  • physical ability metrics
  • marketing activity metrics
  • customer profile metrics.

With the evolution of IT the development of computerised marketing dashboards has increased. In previous years companies compared metrics and outcomes manually but in recent times the development of dashboards has flooded the marketplace. A dashboard enables a company to develop what metrics it chooses to illustrate, demonstrate and visualise in an attempt to analyse the company and highlight areas needing improvement.

According to Lavinsky (2103) ,the 2 main issues when developing a dashboard for a company are recognising what metrics to track and building an appropriate dashboard. Iacobucci (2014) suggests measures that include:

  • “Financial :Sales, profits
  • Marketing:Share, customer satisfaction, average prices charges
  • HR: Employee Satisfaction, low turnover
  • Operations: Lean, mean, green, customer pleasing machine”

So clearly the development of a dashboard has significant investment and given the those in charge of companies want to maximise profit and minimise overheads what is the benefit of dashboards?

It is possible to apply a dashboard to any company. Currently, a state government has developed a dashboard so not only the management can analyse metrics of the organisation but the entire community can also analyse the organisation to determine if they want to “buy” into it – or actually attend the service.

http://www.sahealth.sa.gov.au/wps/wcm/connect/public+content/sa+health+internet/about+us/our+performance/our+hospital+dashboards/about+the+ed+dashboard/emergency+department+dashboard

The SA health dashboard gives customers an up to date profile on the public emergency departments within metropolitan Adelaide. It enables customers / patients to identify what KPI is important to them, if a bed is important, if a wait in emergency is important, if they require mental health versus surgical intervention. This dashboard enables executives of SA health to identify which department is under the most pressure at a specific time, if it is cyclic or it is specific to one hospital.

The dashboard also could be seen to have negative elements – when the emergency departments are in crisis or at capacity, consumers may be discouraged to attend, the effectiveness of a department are available for all to see – which may attract negative attention from social media, political opinions and also detrimental or negative media attention.

Levinski (2013) outlines 5 benefits of dashboards – all of which the SA health achieves these include:

  • Visibility- the dashboard gives insight and everyone is aware of the current aspects of the emergency departments
  • Ongoing Improvements – enables executives to constantly measure performance and as defined previously ‘you cant manage what you can’ measure’
  • Time saving – it is automated and up to date and in real time
  • Judge performance against your plan – SA health have specific emergency KPI’s, some of which are highlighted on the dashboard enabling consumers and executives to measure performance
  • Employee performance improvements – when employees can see their performance and are aware others can see their performance they will attempt to meet the KPI’s and various goals set

Overall, marketing metrics are vital for companies to recognise their performance but also provide a starting point for more advance analysis of a company and its performance.

 

 

Reference List

Iacobucci, D (2014) MM4 – student edition

Levinski, D (2013) http://www.forbes.com/sites/davelavinsky/2013/09/06/executive-dashboards-what-they-are-why-every-business-needs-one/#5ad4b1b27568

http://www.sahealth.sa.gov.au/wps/wcm/connect/public+content/sa+health+internet/about+us/our+performance/our+hospital+dashboards/about+the+ed+dashboard/emergency+department+dashboard

Measuring campaign effectiveness made easy

reporting

Marketing activity effectiveness is often assessed on a narrow set of criteria and therefore does not quantify adequate information to indicate brand and business performance.

The complete picture of marketing evaluation relates to the conceptual model on how well an organization’s marketing mix activities are performing compared to its financial goals.

The chart below covers the main information required to evaluate as overall strategy for marketing activity whether it be traditional advertising, direct to customer, social media, new product development, pricing, sales force activity, distribution, pr/sponsorship, and general metrics.

Although marketing metrics have different indicators than financial metrics, the ultimate goal should be the same.

marketing-metrics-chart

Financial Metrics are about representing profit in response to meeting customers needs. The success should not be based on one silver number or the highest number.

The American marketing Association defines to marketing accountability being:

“The responsibility for the systematic management of marketing resources and processes to achieve measurable gains in return on marketing investment and increased marketing efficiency while maintaining quality and increase value of the corporation”

How to measure your financial effectiveness of marketing activity?

Using three basic criteria a corporation can measure its financial performance.

Profit contribution – the appropriate measurement of the sales response versus the direct cost or marketing investment of an activity. Marketing measurement should tell the organization how well it executes both short and long term activities, how it builds brand equity and creates shareholder wealth. 

Profit Margin – metrics need to be compared with the plan and prior period to understand trajectory of firm performance and be reviewed to see whether there is variation is due to the quality of performance or quality of plan.

Return on Investment or ROI is the measure of efficiency and effectiveness. ROI is important but can also be counterproductive – as it is difficult to measure one off returns for ongoing marketing campaigns. For example magazine advertising in attracting new customers.  If measuring ROI based on spend in various media channels such as advertising it is important to allocate the results according to the exact activity. For example it could be the introduction of a new flavor or packaging rather than advertising a product in a catalogue that results in an increase of financial performance.  EQUALLY IMPORTANT to look at the comparison to old data also.

Finally Customer Lifetime Value or CLTV – is the profit a firm earns from each customer – also known as customer equity and depends on how long a customer remains with the firm; – this measure is increased by raising retention rate, extend the customer life, increasing sales to customer.

Can you change your behavior?

Customer behavior analysis is an important marketing effectiveness measure rather than customer profitability. Also known as behavioural metrics. The firm can either encourage or influence consumer behaviour by changing pricing or other financial activities.

Coles supermarkets overhauled its approach to promotions to drive sales and profits for both themselves and their vendors. In 1990 they increased the discount level on certain categories to up to 10% off the shelf price. Through a pilot program in some Victorian stores, and the use of scan data and promotional history  for particular target categories. The objective was to create promotional plans that would increase sales and profit.  Through examples of Behavioural metrics such as sales – no of units sold, the proportion of market share, purchase frequency, share of category requirements, defection rate, customer complaints and recommendations.

The comparison of competitors products and the analysis of sales movement depending on the discount offered per category/product is important in determining whether the increase in sales came from other brands and if so which brands. 

The table below illustrates whether the promotion has provided the best results. Coles attempted to analyse the effectiveness of promotions by plotting the sales promotion vs the sales increase. Discounts below 10% and above 20% produce the best results.

marketing-analysis

A comparison of Coles vs Aldi and other grocery retailer’s market share comparison shows that margins have been driven lower in the industry, due to the latter’s arrival in Australia.  The rate of expansion along with the increase in marketing expenditure has affected the main players.

Market Share Analysis

Shoppers are also less loyal to a brand which, and value is the key driver to their behaviour – resulting in retailers to lower their prices by approximately 1.5 %  – Aldi Market share is now at 12.1% and Coles is at 37.3% (Roy Morgan Data).

Market Penetration

Proportion of product sold in category – Multiples command around 70% of all packaged grocery sales and have little opportunity to share growth in that category.

Purchase Frequency and Category Requirements

In an average four hour week period, 5.3 million customers shop at Aldi, and 10 million at Coles, and out of these shoppers 37% visited at least one Coles store.

Do you remember my brand?

Memory Metrics – relate to brand awareness, brand image association

In recent times Coles image has lead over Woolworths in savings across various brands. In June 2015, customers associated value-add in the Coles vs Aldi Shopping basket of over $100 per week.  Most shoppers are guided by price and offer. If customers perceive your brand as too big and not putting in an effort they will go elsewhere, and in this case to the likes of Coles and Aldi.

“I think Aldi is the cheapest, second is Coles for value and last is Woolworths” customer statement.

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Customer Brand Preference Survey

Choice’s Consumer Pulse Survey in March showed that 75 per cent of Australians were concerned about grocery expenses and value for money was a top priority. A market price survey released this month showed that shoppers could save about 50 per cent on their weekly bill by foregoing leading brands at Coles and Woolworths.

For the purpose of this analysis – physical availability metrics will be brief and  making a brand easy to notice and buy as possible. – Coles has physical and digital channels of distribution – with approximately 776 supermarkets in Australia. The brands available a numerous across private label and supplier lines.

Customer profile metrics

Customer profile metrics identify customer geometric criteria such as their gender, age or income. Retailers find it important to target buyers based on set where they live, who their buyers are, how, when and where they shop.

Advertising both through digital and social media have different marketing metrics than for example price promotions.  Email campaigns are measured by open rates and click rates.  To ensure a campaign is successful the comparison should be how your open rate vs the industry average click rate.

click-rates

Other internet reports such as banners and tiles on website are measured by click through rate, post log in purchases but are also measured via overall sales data units post and during the promotional period.

Sales force data and CRM databases help collect data so that leads can be captured and recorded for follow up targeting.

Marketers now need to be involved in the marketing mix decision making, and market growth is often associated with economic growth.

why-shoppers-are-turning-to-coles-and-aldi-over-woolworths

KATHY TOURGELIS

Student ID: 212243981

REFERENCES:

frank.chung@news.com.au – Business Retail: Moody’s rings Aldi alarm bell for Coles, Woolies, April 22, 2016.

Mintz, Currim – What Drives Managerial Use of Marketing and Financial Metrics – Journal of Marketing Volume 77 (March 2013), 17-40

Wyner G, Do Financial Metrics Stifle Marketing Creativity – MM November/December, 2008

Ambler.T, Roberts J, Assessing Marketing Performance don’t settle for silver metric, Journal of Marketing Management, 2008, Vol 24, No 7-8, pp 733-750.

Clark B, Ambler T, Managing the Marketing Metrics Portfolio – Marketing Management, Fall 2011, 16-21

Gielens K, Drivers of Consumer Acceptance of packaged goods – International Journal of Research in Marketing. 24, (2007) 97-111.

Kembrey, M – Why Shoppers are turning to Coles and Aldi over Woolworths, The Sydney Morning Herald, Business Day, June 18, 2015.

Kennedy C, The Promotion side, Progressive Grocer, Sept 1993, 72: ABI inform collection, page 40.

Marketing Evaluation of Apple

 

Apple is the major brand in the technology industry in relation to its profit generated and ranking of its brand. Apple has satisfied many people years after years with its products like Macbook, Iphone, Ipad, Iwatch, Ipod, Itunes and many more.

Apple always targets three main segments. As apple is the most premium brand it usually uses lifestyle segmentation. The urban population which has sufficient purchasing power for buying apple products generally comes this segment. These are people who are early users in life but now the brand image of Apple like that even laggards have started using the products.

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There are three target groups in Marketing strategy of Apple:

  1. People who love music are targeted by Apple Ipod and Itunes.
  2. Irrespective of age, people are targeted for Apple Iphone, Macbook, Tablets and many more things.
  3. Products like Apple TV and Apple Iwatch also targeted many people.

As apple being on top there is no doubt that when people talk about smart gadgets, the first thing that comes to their mind is the Apple.

Mac is designed by Apple, they are the finest computers in the world with software like OS, iLife and iWork. With its iPods and Itunes apple is on top in the field of music. Apple iPhones and tablets describes the future of mobile media.

Apple has gained many advantages over its competitors:

  1. Products with higher technology ­– its only of software like OS, Macbook and Iwatch have leaded the market space.
  2. Brand Image – Apple is being on top years after years and well known for its brand image.
  3. Profit gained over time – apple make high profits dues to its high profit margins.
  4. Research and Development – The biggest advantage that Apple has gained from competitors is that spending of research and development keeps their eye on the future instead of focusing on the present.

14965-10909-canaccordgenuitysmartphoneprofitshare-l

Apple have generally faced very less competition in the market. Ipad faces competition from Samsung tablets, Apple Iphones faces tough competition from Android phones and  Macbook faces its competition from Dell.

The genuine services offered by Apple like itunes also has its competitors like online music players. Ibooks faces tough competition from Amazon. However, Iwatch holds the market share but its competitors and also rising like Samsung gear.

 

marketing-strategy-of-apple-inc-bcg-matrix

The BCG matrix of Apple is divided into four parts:

  1. The Cash cows are the products which are standing from the starting and have no completion as per the present market situations. Products like Mac, Iphones, Iwatch and Itunes have 50% of their market share in the year of 2015.
  2. The stars are referred to Ipad and Ibooks because these two products have to face lot of competition and to being on top position Apple has to invest a lot.
  3. The question mark referred to Apple TV which generally have least market share and it can be possible that it might grow with certain speed in future.
  4. The dog is referred to Ipod because no doubt its market share is high but now it is speedily decreasing as smartphones have took place of Ipods.

Apple has arranged its retailing in a very smart way. In US there are around 450 stores. In these stores rather than selling the product and packing the product for customers they help them and gives them comfort with apple products.

In 2016 Apple has the maximum brand equity in the world and also achieved top position as a brand in the world. The brand worth of Apple is 118.9 billion dollars. To reach at this much level the brand has struggled a lot and it the power and ability to its products successful one after one and to reach to the entire world with the best products. Apple has reached to the highest brand equity one of the reasons is that they are outstanding marketing communications.

Apple advertises if products in a very stylish way as it is visible from any of its print ads like in newspaper or magazines. Apple flash their message in a very clear way with white background and splash of colors on the printed ad while introducing the product or differentiating the product.

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That is why this is the main strength of this brand. Not only the print ads, even the video ads also do the same.

The publicity that Apple does cannot be ignored and this publicity goes on till the product turns into achievement.

The brand Apple can make others marketers to learn from them with respect to differentiation, building brand image and the most important of all “Innovation”.

 

References:

Bhasin, H. (2016). Marketing Strategy of Apple Inc – Apple Marketing strategy. [online] Marketing91.com. Available at: http://www.marketing91.com/marketing-strategy-apple/ [Accessed 26 Sep. 2016].

YouTube. (2016). Steve Jobs on Market Research m4v ff avi ff. [online] Available at: https://www.youtube.com/watch?v=2U3w5Blv0Lg [Accessed 26 Sep. 2016].

 

   Name– Nilesh Khaitan

Student ID– 215429315

Unit: Mpk732 (Marketing Management)

Submitted to: Dr Nichola Robertson

Due date: 26/09/2016

 

 

 

What are marketing metrics?

A company want to well operate their business can use marketing metric to measure the influence of their business. Marketing metric can be characterized as a “framework that evaluates a pattern, dynamic or trademark. It can analyze causes and venture future occasions (Farris 2010:1). The marketing metric has turned into an estimation framework, whether in both business and examination, marketing metrics incorporate characterizing goals, measuring the level of consummation and giving the criticism on procedures subject to change. In addition, marketing metrics are considered as a standard of estimation and they are utilized as a relating benchmark (Milichovsky & Simberova, 2015).

Marketing metrics include six measurement method, financial metrics, behavioral metrics, memory metrics, physical availability metrics, marketing activity metrics, and customer profile metrics.

  1. Financial metrics:

In any business campaign, there is a definitive point to produce beneficial deals. Shareholders, steward and advertisers anticipate that organization will amplify benefits to have most elevated profit for their speculations. For this organization use financial metrics to quantify deals incomes, minimize overhead costs, expanding gross edges and overseeing ventures to suitable hazard and expected returns (Lenskold, 2003).

Figure 1

 mmf2

HTC, is a smartphone company, according to the measurement (figure 1) can find out that during 2014 to 2015, revenue and operate profit have a slight change. In 2014 Q4 (NT$47.9 billion) the revenue was high but in 2015 Q2 decreased to NT$33.0 billion. In 2014 Q4 to 2015 Q2 the gross margin also decline to 19.3%. Therefore, through the measurement results HTC can make adjustments to their marketing plan, and apply financial metrics to increase company profit.

  1. Behavioral metrics

Behavioral metrics consist of sale, market share, market penetration, purchase frequency, share of category requirements, solely loyal customers, defection rate, and customer complaints and recommendations. In the other word, it have to consider how many unit did company sell? How much market share does company hold? How often do clients purchase? (Sharp, 2013).

  1. Memory metrics

Memory metrics portray data that buyers have in their recollections in connection to a product or a brand. In addition, this measurement include brand awareness, brand image associations, mental availability, attitude, customer satisfaction and service quality, and Intention to buy a brand in the future (Sharp, 2013).

There is an example for behavior metric and memory metric:

Nowadays smartphones are popular all around the world, and is an important communication tools for people to use. Following will shows that which brand and type of phone for clients are willing to buy.

Figure 2

 mmb1

Figure3

mmb2

Resource for figure 2 & 3: Zach, 2016

According to figure 2 & 3 can find out that in 2015 and 2016 Q1 Samsung’s market share is the highest, which means for clients Samsung is the most popular brand in the market. The second place is Apple. In addition, the result from the figure 3 points out android system is more popular then ios system. Therefore, it can clearly show that Samsung is the top brand in smart phone.

Apple vs. Samsung: A Battle Bigger Than Your Phone

This video is compare between Samsung and Apple, and also have an investigation point out that Samsung is the most popular brand for clients.

  1. Physical availability metrics

Physical availability implies making a brand as simple to notice and purchase as would be prudent, for as many clients as possible. It incorporates more than retail infiltration and incorporates hours of accessibility, and simplicity of encouraging the buy. Following physical availability metric include: Number of distribution points, Hours of opening, and Geographical coverage of distribution points, Geographical coverage of delivery points, Number of display points in store, and Number of shelves devoted to the brand(Sharp, 2013).

Following is an example for Physical availability metrics. Woolworths is one of the big supermarket in Australia. It not only have physical shop provide clients to go shopping. It also provide on-line shop for clients can shop everywhere and it also will deliver to house for you. Therefore, Woolwealth give client easy shopping.

Woolworths Shop Online

 

  1. Marketing activity metrics

Marketing activity metrics is essential to quantify what advertising exercises the association is really doing. Fundamental for the association to monitor its promoting venture (Sharp, 2013).

  1. Customer profile metrics

Customer profile metrics is for advertisers recognize and achieve the greater part of the distinctive purchasers in a brand’s classification. The measurements incorporate client’s sexual orientation, age or income. What’s more, advertisers need to comprehend who their distinctive purchasers are; the place they live; what media they expend; how, when and where they shop.

Following is an example about customer profile metrics, it use marketing dashboard to identify where smartphone clients are.

Figure 4 mmc

Resource: mobile marketer, 2014

Reference list

Farris, P 2010, Marketing metrics : the definitive guide to measuring marketing performance, Upper Saddle River, N.J. : FT Press, c2010.

Lenskold, J. (2003). Marketing ROI. New York: McGraw-Hill., retrieved 24 September 2016.

Milichovsky, F, & Simberova, I 2015, ‘Marketing Effectiveness: Metrics for Effective Strategic Marketing’, Engineering Economics, vol. 26, no. 2, pp. 211-219., retrieved 24 September 2016.

Sharp, B. (2013), Marketing: Theory, Evidence, and Practice. Oxford University Press, Melbourne, Australia.

Figure:

  1. Chilin C. & Edward W. 2015, “HTC CORPORATION 2Q15 BUSINESS REVIEW”, HTC 2015 investor
  2. Zach E., 2016, Whatever you do, don’t buy these smartphones
  3. Mobile marketer, 2014, U.S. Smartphone Ownership Reaches 71.8 Percent Mobile Market Penetration

Video:

  1. Apple vs. Samsung: A Battle Bigger Than Your: Phonehttps://www.youtube.com/watch?v=cPE-0nV5g0M
  1. Woolworths Shop Online:  https://www.youtube.com/watch?v=w9rIi_lNCJw

By – 214497061

Marketing Metrics: What you need to know.

The importance and relevance of marketing has been analyzed ad naseum throughout this semester by students one and all. This very site has played host to a myriad of interesting viewpoints all emphasizing the importance of marketing in the modern strategic environment, however one key factor in the strategic marketing process has yet to be explored; the evaluation of marketing.

Whilst the numerous theories behind the various marketing elements have been explored extensively, the implementation of these tools is dramatically affected by the ability for an organization to measure the effectiveness of these tools. In order to do this, organisations must adopt an honest and open minded approach evaluating performance, in order to maximize the output of their marketing strategy, and, in turn yield maximum value for their marketing investment.

Much like the posts on this site, the quality of the work whilst submitted with the best of intentions can only be quantifiably evaluated by the mark given with respect to the relevant criteria, by the same token, the effectiveness of marketing activities can be measured with respect to marketing metrics. These metrics range in type to provide a comprehensive form of analysis, this article will seek to simplify these categories and provide you with the information that you need to know.

Financial Metrics

Whilst many organisations simplify the evaluation of their success down to purely profit and loss, when it comes to marketing the landscape is a lot more complex. Financial metrics such as ROI, Customer Value, Profit Margin and Profit Contribution are great indicators that can be used to justify or dispel the investment in marketing activities, and can form the basis of an evaluation, however, they can be misleading, for example, ROI measures on a percentage basis not on a total sum, therefore a campaign generating a low ROI can potentially make significantly more than one with a High ROI (Piketty, Goldhammer & Ganser 2014).

Behavioral Metrics

Looking at behavioral metrics allows us to look not just at if a marketing activity is working, but how such results are being achieved. The application and interpretation of metrics such as sales totals, market penetration, purchase frequency and my favorite; market share, are crucial in explaining how an organisation is generating their profits, and what areas can be improved. Market Share to me is a universal representation of whether a marketing campaign is working that can be applied to all profit-based organisations, and should always be considered as a KPI (Lautman & Pauwels 2013)

Memory Metrics

Memory Metrics are a unique form of evaluation which can provide organisations with valuable information regarding the perception of their brand. Brand Awareness, Brand Image, Consumer Attitude and Intention to buy are all key indicators in this category. This category would best be described as a great supplement to a marketing evaluation strategy, as the information alone doesn’t provide satisfactory detail, but in conjunction with other metrics can go a long way to providing detail relevant to analyzing the marketing performance of the brand.

Physical Availability Metrics

These factors look at the positioning of the product in a tangible sense, to analyze the presence that the product has at the point of sale. These factors include, shelf space, the hours of operation at supplier, geographical distribution of product and quite simply the quantity of distributors. These factors provide insight into the front-line reasons as to why a product may or may need be performing as expected. Like market share, shelf space and tangible distribution of the product can be a key point of competitive advantage for many brands, particularly in the retail context (West, Ford & Ibrahim 2015).

Market Activity Metrics

These metrics take a broader view of the overall marketing strategy as a whole. Such considerations are of vital importance to provide insight into the efficiency and effectiveness of the marketing activities being undertaken to ensure the prolonged success and constant rejuvenation of the marketing activities being undertaken.

Customer Profile Metrics

The final category of Marketing Metrics relates specifically to the process of profiling the customer base of the brand. These factors generally relate to demographics and allow the brand to get a strong perception of who their customers really are. This is exceptionally powerful in enabling marketers to make informed decisions with a clear target in mind, subsequently mitigating a significant amount of risk throughout the marketing process (Sadgrove 2016).

In summary, Marketing Metrics are a vital component in developing a marketing strategy, and should never be overlooked. The ability to both critically and accurately evaluate a marketing program, empowers brands to improve themselves and strengthen their position in a competitive market. Conversely, the risks associated with not adequately evaluating marketing activities or depending exclusively on profit-based figures can be significant, with a rapid decline in market share the likely outcome. Simply, knowledge is power and the more information a brand can provide themselves with, the more sustainably effective they will be moving forward.

 

 

 

REFERENCES

Lautman, MR & Pauwels, K 2013, ‘Identifying Metrics That Matter: What Are the Real Key Performance Indicators (KPIs) That Drive Consumer Behavior?’, GfK Marketing Intelligence Review, vol. 5, no. 2, pp. 46-52.

 

Piketty, T, Goldhammer, A & Ganser, L 2014, ‘Capital in the twenty-first century’.

 

Sadgrove, K 2016, The complete guide to business risk management, Routledge.

 

West, D, Ford, J & Ibrahim, E 2015, Strategic marketing: creating competitive advantage, Oxford University Press.

 

Harrison Shannon-Brown

FASCINATOR + EVALUATIONS ARE REQUIRED!

grc_2016_2o0c0321_sdriscoll_gtselection_01_retouched

It’s that time of the year, spring is in the air and that can only mean one thing… Spring carnivals are here! Your social media strategy is developed and approved, baseline stats have been recorded. You half way through your digital marketing campaign and your boss has asked you to prepare monthly ROI of for the Spring carnival social media campaign.

How do you respond? What do they really want to see?

 

Too many social media managers fall back on the easy answers: we gained this many new Instagram followers, this many Reposts, this many likes, this many Facebook shares, and so on.

Sure, these social media metrics offer insights into how the campaign is performing or a particular “post” or imagine of content performed, but will they show your boss and executives how your efforts are helping boost the bottom line.

Activity based marketing evaluation is fine a can provide some fantastic assessments on how the strategy is performing. But technology allows to step things up a notch so that the social media analytics will better reflect and explain how all your hard work is paying off. How giving up your Saturday to approve that Instagram post is really increasing the companies brand awareness.

What if your marketing strategy is not efficient and you are not reaching to the target market?

How will you get to know that where you are lacking?

One answer for all these questions is Marketing Evaluation. In order to evaluate or calculate your marketing, study of marketing evaluation provides multiple tools and a marketing matrix is one of them. A marketing mix helps a company to measure market through quantifying, comparing and interpreting the market data.

eva

Ultimately, evaluating your social media strategy is very accessible and an important process to see real results.

7 tips for Social Media evaluation to include from Sarah Dawley that will aid in explaining and expanding activity based analysis to operational based digital analysis:

  1. Don’t just track link clicks, track click-through with bounce rate.
  2. Don’t just track web referrals, track share of traffic driven.
  3. Don’t just track mentions, track social share of voice.
  4. Don’t just track comments, track conversation rate
  5. Don’t just track shares, track amplification rate
  6. Don’t just track likes, track applause rate
  7. Don’t just track numbers, track leads

The key to tracking and evaluating a marketing is ensuring your leads are the links you share have shared & that they are trackable within your marketing automation or analytical software.

Marketing Evaluation is not a hard or demanding thing. With your online footprint statics and data are always available and present, it is just about finding out and displaying exactly what you need to. Being able to identify what did and did not work, what target publics were reached, who were not. The costs associated with the campaign and the overall outcomes. The strengths and weakness, future opportunities and what threats may be present for the next time. Looking into regression analysis, what your publics di? What do they intend to do? From your evaluation and you predict what they are going to do?

 

 

Including al of this in your Marketing Evaluation and your ROI for you boss during your spring carinval social media planner will ensure you are readily able to track, identify, and evaluate your marketing campaign.

Refernces:

 

CAMSoft Experts (2016) Social media marketing with Facebook and Twitter: 026 evaluating post frequency. Available at: https://youtu.be/qHidk9YSC1Q (Accessed: 26 September 2016).

International, B. 2 B. (2016) Regression analysis in market research. Available at: https://www.google.com.au/url?sa=t&rct=j&q=&esrc=s&source=web&cd=3&cad=rja&uact=8&ved=0ahUKEwj_kefFgq3PAhXEFZQKHSXwDwcQFggsMAI&url=https%3A%2F%2Fwww.b2binternational.com%2Fresearch%2Fmethods%2Fpricing-research%2Fregression-analysis%2F&usg=AFQjCNG-X0vd6DjucE51AFy76xfwC-E4vQ (Accessed: 26 September 2016).

InstruxionAE (2011) What is marketing ROI? Explania.com. Available at: https://youtu.be/1vRx5TYTmYs (Accessed: 26 September 2016).

Return on investment (ROI) (2016) Available at: http://www.investinganswers.com/financial-dictionary/technical-analysis/return-investment-roi-1100 (Accessed: 26 September 2016).

Sterne, J. (2010) Social media metrics: How to measure and optimize your marketing investment. Available at: https://books.google.com.au/books?hl=en&lr=&id=OkkZhB2Yw7IC&oi=fnd&pg=PR10&dq=social+media+metrics&ots=1Fk1yxNLD2&sig=VJ9RQQJCIIO1dM0uHfxyJUVFiTs#v=onepage&q=social%20media%20metrics&f=false (Accessed: 26 September 2016).

Victoria, R. (2016) Country racing Victoria – Geelong. Available at: http://www.grc.com.au (Accessed: 26 September 2016).

Wintor, J. (2014) 7 powerful methods to improve your business Bottomline. Available at: https://www.optimizesmart.com/7-powerful-methods-improve-business-bottomline/ (Accessed: 26 September 2016).

What is a marketing mix? Definition and meaning (2016) in Available at: http://www.businessdictionary.com/definition/marketing-mix.html (Accessed: 26 September 2016).

Chloe McIntosh, ID: 210671252

 

 

 

Marketing evaluation: Samsung to rule the world with its new Technologies and marketing strategies.

 

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.

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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.

  1. 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)
  1. Sales Number: Perusing the numbers can be the speediest and most essential approach to figure out if your plan is working. (Robert Morello,2016)
  1. 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)
  2. 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)
  3. 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)
  1. 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)
  2. 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.

3.Confirms credibility.

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)

Customer Perspective:

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.

 

Behavioral Metrics:

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)

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Conclusion:

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.

 

REFERENCES:

1.Lecture Notes

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.

SRIKANTH GAJAVADA

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Old brand finds strength with new fitness craze

Health and fitness; it can either make you or break you into a thousand pieces of pure muscle agony. But the real question troubling our mind is, which brand will compliment our workout regime? Since everyone worries about being in style whilst sweating it out and making ridiculous faces when trying to hit a personal best. Or having a strong desire to get the perfect gym selfie so that our peers can idolise our workout and fantastic gym-wear style.

Or are tv shows lying to us and the gym isn’t actually like that? 62840627

Continue reading

BUSINESS THE TRUMP WAY??

the-liberal-media-war-on-trump

Image source- google images

He says he is not rich but he is a billionaire. His casino companies went to busted because of his debts even though he claims he hates debts.

BEHAVIOR METRICS:

Trump was throwing away financial opportunities through his offensive tantrum, and yet all of his boasting of his magnificent and shrewdness of his wealth, the self-proclaimed billionaire has been a lousy businessman.

We all know trump doesn’t care about his offensive statements like he once said his written speech was boring so he went off – script. Trump knew the business was still there even when he was testifying about the casino magnates.

Trump business is a long career with a long list of troubles, lost contracts, bankruptcies, defaults, deceptions and indifference to investors.

But he is still a billionaire, may call it an art of the bad deal, one created a by the egotism and thoughtlessness of a businessman whose main talent is “self-promotion.”

Most of them think trump can be the main cause for volatility in the financial markets. He gained a lot of followers in social media and mass media and also dominated many aspects of the polls but he lost former supports and also business partners.

“Marketing Metrics specializes in all areas of data collection. It focuses mainly on the advisor- sold investments and insurance worldwide.”

FINANCIAL METRICS:

As trump says he is qualified to run the country proclaiming he is a successful businessman who knows how to work out things. And meanwhile he had few successes in business but most of his so-called ventures have been disasters.

Trumps says he made his money the old fashioned way. But his wealth is daddy-made may be like family metrics. Most of his best-known big fat achievements are attributable to family ties or money from his “daddy.” Even with such privileged advantages, Donald Trump’s initial deals for his daddy were busts.

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Trump and father Fred Trump (www.newsweek.com)

Trump’s personal finances were always a disaster. Yes, trump is rich and that is only because he is born rich. And without his “daddy” he would have been bankruptcy before he was 35 years old.

ROLLING SNAKE EYES- CASINOS:

Donald Trump at the Grand Opening of Taj Mahal

(Original Caption) Atlantic City, New Jersey: Donald Trump raises his fist in a salute as he presides over opening ceremonies of the formal opening of his Taj Mahal, which he calls the 8th wonder of the World.

Image source google images

Since his personal finances were falling down, trump wanted to make quick money through casinos. So he launched three casinos: The Trump Plaza, Trump’s castle, and Trump Taj Mahal. He always makes sure He always comes first. Throughout the 1990s and in 1996, there was a market cap in excess of $1 billion. This $1 billion market cap has made Trump’s 41% stake worth around $400 million. Surprisingly, even in the 1990s, the company had to struggle with debt. In 2014 Harrah’s at Trump plaza was closed. The only entertainment on the go is the Trump Taj Mahal in Atlantic city. In 1991, 2004, 2009, and in 2014 the Trump Entertainment Resorts have faced a fair share of problems with debt and financing which lead to Bankruptcy.

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Image source googles images

CUSTOMER PROFILE METRICS:

Trump’s controversial comments affected most of Trump’s brands. The controversial comments about the immigrant in America which resulted in angering many, including several companies whom with he has business relationships.

The controversy comments have harmed the Trump organization. Due to Trump’s brash comments, his home and clothing companies took a hit. His Donald J. Trump Signature Collection was pulled by Macy’s store. And also, his home brand was also pulled out from mattress brand’s stores.

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Image Source-Google images

WHY Did HE want TO TRANSFORM HIS SHUTTLE TO LUXURY SERVICE? 

And again Trump with a usual style introduced an airline by insulting the competition. His luxury service includes bathrooms with gold coloured fixtures and plane interiors decked with mahogany veneer. He invested $1 million on each plane to update them but the individual plane worth was only $4 million. Trump was again in a business which he knew nothing about just like his casinos. Customers wanted more reliable and competitive prices rather than luxury on a one-hour flight from Washington to New York.

trump-shuttle-logo-s

Image source- google images

Yet again Trump shuttle never turned a profit.

It cannot be seen as a coincidence that the co-relation between the financial instability and political transition. It can be certain to be better or worse that this co-relation is strong. Trump’s campaign will skew the actions of investors and stockholders.

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Image source- google Images

“People underestimated Donald Trump’s ability to pillage the company. He drove these companies into bankruptcy by his mismanagement, the debt and his pillaging.”

 

References

Bagli, R. (2016). How Donald Trump Bankrupted His Atlantic City Casinos, but Still Earned Millions. [online] Nytimes.com. Available at: http://www.nytimes.com/2016/06/12/nyregion/donald-trump-atlantic-city.html?_r=0 [Accessed 22 Sep. 2016].

Buettner, R. (2016). Trump Casinos’ Tax Debt Was $30 Million. Then Christie Took Office.. [online] Nytimes.com. Available at: http://www.nytimes.com/2016/08/17/us/politics/trump-chris-christie-casinos.html [Accessed 21 Sep. 2016].

Forbes.com. (2016). Forbes Welcome. [online] Available at: http://www.forbes.com/sites/adamhartung/2016/09/23/why-investors-should-support-the-tesla-solarcity-merger/#67a2b35a4c32 [Accessed 20 Sep. 2016].

Forbes.com. (2016). Forbes Welcome. [online] Available at: http://www.forbes.com/sites/ajagrawal/2015/12/25/the-impacts-of-donald-trumps-marketing-campaign/#58c876426cd6 [Accessed 23 Sep. 2016].

Fortune. (2016). Business the Trump Way. [online] Available at: http://fortune.com/donald-trump-businessman/ [Accessed 22 Sep. 2016].

Gallardo, L. (2015). 3 Communication Lessons Businesses Can Learn From Donald Trump. [online] Entrepreneur. Available at: https://www.entrepreneur.com/article/248818 [Accessed 25 Sep. 2016].

Inc.com. (2016). What Donald Trump Can Teach You About Marketing. [online] Available at: http://www.inc.com/chirag-kulkarni/what-donald-trump-can-teach-you-about-marketing.html [Accessed 23 Sep. 2016].

Investopedia. (2016). The Companies Donald Trump Owns. [online] Available at: http://www.investopedia.com/updates/donald-trump-companies/ [Accessed 20 Sep. 2016].

Newsweek. (2016). Donald Trump’s business failures: a comprehensive guide. [online] Available at: http://www.newsweek.com/2016/08/12/donald-trumps-business-failures-election-2016-486091.html [Accessed 24 Sep. 2016].

Paulcraigroberts.org. (2016). Donald Trump: An Evaluation — Paul Craig Roberts – PaulCraigRoberts.org. [online] Available at: http://www.paulcraigroberts.org/2015/12/21/donald-trump-an-evaluation-paul-craig-roberts/ [Accessed 23 Sep. 2016].

Trump.com. (2016). Trump Luxury Real Estate | Trump Real Estate Portfolio | Trump Towers. [online] Available at: http://www.trump.com/ [Accessed 25 Sep. 2016].