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SMM 3 rd Session

SMM 3 rd Session. Topic to be covered…. Industry updates Marketing Audit Segmentation, Productivity and ratio analysis. Marketing Audit. Marketing Auditing.

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SMM 3 rd Session

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  1. SMM 3rd Session

  2. Topic to be covered…. • Industry updates • Marketing Audit • Segmentation, Productivity and ratio analysis

  3. Marketing Audit

  4. Marketing Auditing • The process of marketing auditing is for many organizations is still a relatively new and underutilized activity. This is despite a substantial and growing body of evidence which suggests that organization’s performance in the market-place is influenced significantly and directly by the strategist’s perceptions of three factors: • The organizations current market position • The nature of environmental opportunities and threats • The organizations ability to cope with environmental demands

  5. MARKETING AUDIT A marketing audit is a comprehensive, systematic, independent and periodic examination of a company’s or business units-marketing environment, objectives, strategies and activities with a view to determining problem areas and opportunities and recommending a plan of action to improve the company’s performance.

  6. MARKETING AUDIT These definitions highlight the three major elements, Potentials & benefits of the marketing audit: • The analysis of external environment and internal situation • The evaluation of past performance and present activities • The identification of future opportunities and threats

  7. Five stages of marketing audit-cannon • Define the market (SOP, growth rate, PLC stage etc) • Determine the performance differentials (own vs industry) • Determine the differences in competitive programmes (Market n Product development) • Profile strategies of competitors • Determine the strategic planning structure

  8. Marketing Audit-example

  9. Research on Brand Health Indicators This research revolves around the following strategic dimensions; • Awareness • Top of Mind Awareness • Spontaneous Brand Awareness • Aided brand Awareness • Ad Awareness • Total Brand Awareness • Usage • Brand Ever Used • Brand Used Most Often • Alternate Brand • Frequency of use • Previous brand • Length of usage • Disposition / Commitment • Category Involvement • Brand Attraction • Brand Satisfaction • Usage Future Intention • Imagery • International Brand • Good Quality • Attractive packaging • Good Value for Money • Good Taste • A brand for people like me • Brand Personality • etc. • Promotion Evaluation • TV • Print • Radio • Internet • Company Representative • POS Promotion Material • Brand Activation

  10. Market Segmentation Market segmentation is the identification of who your current and potential customers are. In today's competitive world, market segmentation must include current and potential ultimate consumers of your product/service.

  11. Market Segmentation Customer characteristics and purchasing motivations provide the information needed to decide whether the firm can and should attempt to gain or maintain a sustainable competitive advantage for marketing to a particular market segment.

  12. Bases for segmentation • Geographic variables: region, population, • Demographic variables Age, gender, income,education, family size etc • Psychographic variables Interests, personality, self image, values & attitudes. • Behavioural variables • Usage rate, Price consciousness, occasion, user status

  13. Segmental, productivity & ratio analysis • The starting point is the specification of the cost objects of interest, for example, the productivity of operating via different channels, or serving different customer groups. • Cost will be direct or indirect. Full cost needs to be determine for each cost object (i.e. segment), and the ways in which this can be done. Once this has been done the productivity can be measured and from these measurement question can be raised about the adequacy of each segment’s productivity. e.g. can effort be reallocated from segment A to segment B to improve these segments productivity?

  14. Segmental, productivity & ratio analysis In relation to the question “where are we now?” it is useful to know that how resources have been utilized and with what returns. This is relevant whether the organization is large or small, commercial or non-commercial, engaged in manufacturing or service rendering.

  15. An illustration of segmental analysis As discussed, a segment is any cost object which is of interest, and is synonymous with the notion of activity, project etc. Thus marketing segments may be one – or a combination- of the following, • Product line or range • Channel of distribution • Sales representative or territory • Customer or customer/industry group • Size of order

  16. Profit analysis by channel

  17. IMAGINE….. AN IMAGE SHOWING A COMPLETE OPPOSITE MEANING

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