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Manage And Evaluate Marketing Process Add in library

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Question:

Prepare a report on Manage and evaluate marketing process?

 

 

Answer:

Identification and Implementation of Marketing Performance: Marketing process in respect to Apple Corporation indicates that the company has adapted significant level of marketing initiatives in promoting its iPhone 6. The campaign was aimed at improving the knowledge and awareness within customers with respect to iPhone 6 as launched by the company. The commercial as made by Apple in promoting iPhone 6 starring Jimmy Fallon, host of “the Tonight Show” along with singer and musician Justin Timber is aimed at promoting iPhone 6. The marketing performance of Apple has been quite significant as such campaign has increases the sales for the company with regard to its iPhone. The campaign is termed as Bigger and Bigger and this campaign has resulted into enhanced level of marketing by Apple with regard to its iPhone (Merlyn, 2014). Although the campaign has been efficient from the point of view of marketing of iPhone 6 across few of the markets, yet in respect to Australia, there is a need for efficient marketing strategy in promoting iPhone 6. The important aspects related to marketing strategy are discussed as follows:

 Initially, the company is required to select the target market which has been the premium class customers for iPhone 6. The marketing efforts are aimed at targeting only these premium class customers for which the marketing mix strategy include providing premium quality products at premium prices across all the major locations in Australia. In ensuring that the product is marketed efficiently, the efforts of all the employees in the marketing department should be utilised. The employees in the marketing department are responsible for devising strategies aimed at promoting iPhone 6 in Australian markets. In ensuring that combined efforts from employees are achieved, they would be provided with training regarding the ways in which people can be attracted towards the campaign. Their management would be performed by mentors appointed especially for marketing iPhone 6 in Australia.

Marketing Metric Reflected in Marketing Mix: The marketing metric as reflected in the marketing mix is indicated below:

Marketing Metric

Category

Metric

People

There should be at least 1000 visitors in the first day of campaign for iPhone 6

Action

There should be around 5 minutes that should be spent by each customer.

Brand Impact

The impact of brand should be positive with premium class customers subscribing to iPhone 6

Revenues

There should be rise in the sales by 10% on weekly basis from such campaign (Farris, Bendle, Pfeifer and Reibstein, 2010).

Communication Strategy: The attainment of success in respect to marketing of iPhone 6 can be ensured by way of efficient communication strategy. The communication strategy that will be followed is indicated below:

  • Initially all the members related to the marketing process would be invited to a common meeting place within the company whereby they would be provided with detailed description of marketing campaign.
  • Secondly, they would be allocated with responsibilities for their roles in the organisation.
  • Thirdly, they would be monitored as to whether they are performing their roles efficiently (Jones, 2008).
  • Finally, the employees would be provided feedback to ensure improvement in their roles.

This section of analysis is now focused towards evaluating the effectiveness of the marketing performance, and also aims at identifying the areas which could be strategically improved. The analysis of different aspects is carried out as follows:

Analysis of Marketing Outcomes: The marketing outcomes of the marketing campaign as considered has been highly effective, as there has been increase in the consumer awareness for iPhone 6 being achieved and this has resulted into increased sales for it in the target market of Australia (Maarek, 2011).Review of Strategic Objectives: The strategic objectives have been to achieve higher level of growth and development in respect to the sales of iPhone 6, and the performance of marketing campaign has contributed in a positive manner towards the accomplishment of strategic objectives.

Reviewing Marketing Metrics- The marketing metrics as developed have been quite effectively accomplished from the marketing campaign as undertaken. As for instance, the performance of marketing campaign has not only resulted into an increase in the traffic of public, but it also shoots up the sale of iPhone 6 to a greater level. The positive image of Apple brand has been significant from the point of view of attracting people towards the campaign.Success and Performance Gaps: The entire analysis of the campaign as selected has resulted into the identification that there has been higher level of success being achieved in terms of higher profitability performance from increasing customers subscribing its products. However, the gap as noted is mainly in terms of higher overall awareness within majority of the customers about iPhone 6 (Gospe, 2008).Analysis of Performance over Target: The analysis of the performance of selected market campaign indicates that it has performed well in terms of creating awareness within the targeted people. The performance of marketing campaign is effective as compared to anticipated.

 

Analysis of Changes in Market Phenomena: As a result of marketing campaign as carried out, there have been certain major changes being evident in respect to market phenomena. As for instance, the increasing awareness has created opportunities for higher sales and revenue for the products by the company The potential strategic improvements that have been possible are mainly in respect to increasing customer involvement with respect to the marketing campaigning process. The employees are required to involve themselves and encourage more and more interaction with the customers so that there can be higher level of awareness that could be created and positive level of subscription for iPhone 6 could be achieved from the customers.

When undertaking marketing audit, the important factors that should be considered are the coverage of target audience, effectiveness of the content used for marketing, appropriateness of message and also the mode considered for marketing of products and services.The positioning statement for cold powder washing powder can be “Cold Powder is an efficient way of cleaning the dirty clothes, best powder to wash the clothes, or it can be in the form of cheapest form of washing power in washing dirty clothes.Marketing objectives come from the strategic marketing goals that the organisation seeks to achieve. The objectives are devised from the marketing goals that have been planned by the managers at senior level for accomplishment from the organisation.

The re-word phrase of the marketing objective is indicated below:

“To achieve significant level of improvement over the sales of the company and thereby aims at doubling the net profit from operations”.

The re-phrase of the marketing objective is indicated as follows:

“To achieve higher level of awareness of our brands within people”.

There are four stages to product lifecycle and each such stage indicates about different situations through which a product passes. The third stage in particular is mainly the maturity stage and this stage indicates that the products and services as offered by the company have reached the maximum level and there is no scope for further development. The maximum sales for the product have been reached and it is likely to witness a decline over its sales. This suggests that maturity stage conveys meaning that the performance of the product is about to decline.In boosting sales during the third stage of the product life cycle, the strategy that could be applied is mainly in terms of encouraging existing customers to purchase the product, and there should be additional incentives tied to them from purchasing the company’s products.The risk of trading up is that it leads to customers unable to buy the products because of premium prices charged for the product whereas trading down is riskier because it leads to the development of negative image for the product within buyer because of limitations being placed over the features of products. A sales analysis would be carried out by reviewing the volume of products that have been sold over a particular period of time. The sales for the similar product over the previous period would be assessed and they would be compared to analyse the overall sales performance level.The metric that would be utilised in measuring the times the organisation’s inventory is turned over is sales. The sales figure would provide the exact identification of the number of times the inventory is turned over during a particular period.The customer lifetime value has been calculated in the given case and it has been identified as 136.80. This particular amount is likely to be gained from a customer during the six year period based on the information as provided in the given case.

References

Farris, P.W., Bendle, N.T., Pfeifer, P.E. and Reibstein, D.J. (2010), ‘Marketing Metrics: The Definitive Guide to Measuring Marketing Performance’, 2nd ed., Pearson Education.

 

Gospe, M. (2008), ‘Marketing Campaign Development: What Marketing Executives Need to Know about Architecting Global Integrated Marketing Campaigns’, Happy About.

Jones, P. (2008), ‘Communicating Strategy’, Gower Publishing, Ltd.

Merlyn, (2014). Justin Timberlake And Jimmy Fallon Star In iPhone 6 Commercial As Part of The 'Bigger and Bigger' Campaign By Apple

Maarek, P.J. (2011), ‘Campaign Communication and Political Marketing’, John Wiley & Sons.

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