D2C13/14 Monitor & Marketing Options Flashcards Preview

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Flashcards in D2C13/14 Monitor & Marketing Options Deck (3)
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Why is monitoring marketing necessary?

> Marketing is a dynamic process
> Need constant review to check if it is working as intended
> If necessary, should consider making changes; or abandon marketing process and withdraw a product


Ways to measure the success of a marketing strategy

> Looking at sales figures, profits or number of hits on website
> Marketing research (distinguish from market research): : >>ask consumers directly for feedback;
>>eye tracking to analyse how consumers look at websites, store layouts and adverts;
>>viral marketing research (estimate the probability that specific communications will be transmitted throughout an individual’s social network - social networking potential)


List different ways in which companies can carry out marketing

>In-house team
>Outsource to some or all marketing functions to PR company or advertising agency
>Work themself: small budget and relatively limited activity; take up valuable time
>Become member of industry association which help promote members’ products