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Judging marketing mix effectiveness (Marketing mix effectiveness (Stage 3…
Judging marketing mix
effectiveness
Introduction
Marketing Activity
Short Term
It is relatively straightforward
Long Term
It inexact
science based on
assumptions
Intangible
brand equity
Volatile and uncontrollable external environment
Competitors
Legislators
Customers
Tangible
Sales Volumes
Constraints
(SMEs)
Proposes a practitioner-developed tool for “judging” marketing mix effectiveness
Corporation vs SME implications for metric usage
Structural difficulties in managing marketing
Revenues can be skewed
Marketing plans can be diluted
Limited, intermittent or no reliable multi-year data
A rapid start/stop mentality in discretionary spend
The choice of activity favours those with more immediate (more tangible) effects
The culture is closely set by the long-standing owner/manager and their personal experiences/prejudices
Focus on operational rather than
strategic marketing activities
Pragmatic approaches to solve the problem
Work in business culture
Work with available data
Using formal marketing effectiveness measures
Seven measurement themes (Seggie et al.
2007, p. 836)
From macro to micro data
From independent metrics to causal chains
From short term to long term
From absolute to relative
From backward looking to forward looking
From subjective to o
From non-financial to financial
Marketing mix effectiveness
Stage 3. Marketing mix effectiveness rank
consolidation of the communications
Marketing mix effectiveness
Strengthens marketing resources
2 X 2 Matriz
Stage 1. Communications effectiveness ranking
Communications
effectiveness (Ranking)
Direct marketing
Sales force
Brochure/printable material
Telephone
Advertising
Press
Sales promotions
Web
Exhibitions and conferences
Stage 2. Offer effectiveness ranking
Offer effectiveness
How well the firm uses
the total marketing mix, excluding marketing communications