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Judging marketing mix effectiveness (Tool (Benefit (Works with historial…
Judging marketing mix effectiveness
SMEs
structural difficulties in marketing
Data poverty
Lack of objetcive data that relates mkt activity to business performance
They favor activities that deliver inmediate results
Marketing can only be effective in the window of operations permitted
Focus on operations
Mkt measurement of effectiveness
available information, customer interviews, competitive review, practitioner understanding of industry norms
Tool
Benefit
Works with historial information
Authenticates from customer surveys and competitor reviews
Considers mkt mix
Jargón free language usable for marketing decisions
Uses visual indicators
Agreed agenda for mkt areas
Sme owner/managers cwill inderstand strategic linkages between mkt mix elements, customer groups and outcomes of past mkt actions
Considers
Mkt mix
Segmentation
Targeting and positioning
Áreas
internal
promotional activitues
external
customers, competitors, industry and practitioner knowledge
Stages
Stage 1. Communications effectiveness ranking
Well use of mkt communicatinos tools on market
Stage 2. Offer effectiveness ranking
Use of total mkt mix
How attractive the firm’s offer is viewed relative to customer needs and competitive propositions
Data source
customer interviews, competitor analysis, practitioner knowlege, market norms
Proxies
Defocus, Monitor or Desist, Improve and Promote
Measures imprtance of elements in purchasing and feelings
Stage 3. MKT mix effectiveness Rank.
Consolidation of the above
Quadrant: Now, Possible, Room for significant improvement
Concerns
Incomplete mkt mix coverage
Analysis and score controlled by practitioners
